Forest Laboratories (NYSE:FRX) is trading at unusually high volume Wednesday with three million shares changing hands. It is currently at 2.1 times its average daily volume and trading up $1.50 (+3.6%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Forest Laboratories (NYSE: FRX) is trading at unusually high volume Wednesday with three million shares changing hands. It is currently at 2.1 times its average daily volume and trading up $1.50 (+3.6%) at $43.07 as of 1:56 p.m. ET.
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Forest has a market cap of $11.01 billion and is part of the health care sector and drugs industry. Shares are up 17.7% year to date as of the close of trading on Tuesday. Forest Laboratories, Inc. develops, manufactures, and sells branded forms of ethical drug products primarily in the United States and Europe. TheStreet Ratings rates Forest as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Forest Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. 3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more..