Durect initiated by Oppenheimer at buy

Durect Inc. was initiated Tuesday by Oppenheimer & Co. with a buy rating. Cupertino, Calif.-based Durect develops pharmaceutical systems based on its proprietary drug delivery technology platforms, with various product candidates under development to treat pain and other chronic diseases and disorders. Durect shares on Tuesday added 61 cents, or 14.52%, to close at $4.81 on volume of 980,158 shares versus the three-month running average of 193,746.

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