Piper Jaffray Adds DURECT Corporation (DRRX) to the Alpha List

November 19, 2007 9:13 AM EST

Piper Jaffray adds DURECT Corporation (Nasdaq: DRRX) to the Alpha List. Price target $10.

Piper analyst, Caroline Y. Stewart, says, "We are adding DURECT to the Piper Jaffray Alpha List, as we believe there is an opportunity for significant upside from the stock's current price following the release of positive data from the ongoing Phase III trial for Remoxy in moderate-to-severe osteoarthritic pain, Phase IIa trial for Posidur in appendectomy, and Phase IIa trial for Eladur in post-herpetic neuralgia during 4Q'07."

DURECT Corporation is a specialty pharmaceutical company focused on the development of pharmaceutical products based on its drug delivery technology platforms. The Company’s pharmaceutical systems enable optimized therapy for a given disease or patient population by controlling the rate and duration of drug administration, as well as for certain applications, placement of the drug at the intended site of action.

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