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Investors In Avanir Cheer As Piper Jaffray Lifts Target On Stock Sharply From $6 To $13

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Shares of Avanir Pharma (NASDAQ: AVNR) have rallied more than 5 percent Monday afternoon following some bullish comments and a raise price target from Piper Jaffray's Charles Duncan earlier. Avanir shares had traded up as much as 13 percent in the pre-market session.

The analyst more than doubled his price target on the stock from $6 to $13, citing a clear distinction from Neudexta generics and Avanir's next-gen AVP-786. Duncan believes the company's franchise will expand into 2030 or beyond.

Piper Jaffray currently rates Avanir shares at an Overweight.

With the stock trading up to around $5.23 at last check, Duncan's new price target implies potential upside of nearly 150 percent.

Latest Ratings for AVNR

Sep 2014JefferiesUpgradesHoldBuy
May 2014Mizuho SecuritiesUpgradesNeutralBuy
Dec 2013Mizuho SecuritiesDowngradesBuyNeutral

View More Analyst Ratings for AVNR
View the Latest Analyst Ratings

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