The firm noted the company had a positive FDA panel and the valuation is more attractive ahead of the July 15 Prescription Drug User Fee Act date.
The stock was up 9.88% to $7.23 at 10:38 a.m.
Shares of insulin maker Mannkind plummeted on news of a proposed stock split, staffing changes and a new iteration of its insulin.
Mannkind stock is suffering, and the company appears to be in trouble.
Other movers included Mannkind, Perrigo and Bristol-Myers Squibb.