AstraZeneca Higher Off Drug News And Upgrade

AstraZeneca plc (ADR) (NYSE: AZN) shares are trading higher by $1.00 at $27.28 in Friday's session. The primary catalyst for the rally is the announcement that the FDA has accepted duravalumab for priority review status.

Also, before the open, the company reported progress with it Alzheimer's drug it is developing with Eli Lilly and Co (NYSE: LLY). AstraZeneca was also upgraded by Leerink Swann from Market Perform to Outperform.

After a higher open, it retreated only a penny to $26.70 before continuing its move higher. The issue was halted at 9:54 a.m. at $27.11. Upon the reopen, it reached $27.42 before falling back to its current level. That coincides with its November 17 high of $27.41.