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Why Durect Stock Is Up Today

TheMotleyFool

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Shares of Durect (NASDAQ: DRRX), a commercial-stage biopharmaceutical company with numerous drugs in development, rose as much as 12% in early morning trading on Friday. The stock was up about 10% as of 11:30 a.m. EDT.

Investors can thank Elemer Piros, an analyst at Cantor Fitzgerald, for today's rise. Piros initiated coverage on Durect today and gave the stock an overweight rating. A near-term price target of $5 was also set, which is far above Thursday's closing price of $1.66.

Image source: Getty Images.

Source Fool.com

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