Discovery Partners

(DPII)

was soaring on Instinet after a magazine said the company might be the target of a takeover effort.

According to

BusinessWeek

, the research-products company could be the target of a takeover bid by a large pharmaceuticals company. The story cited Discovery shareholder Flacks Investment Partners.

On Instinet, the company's shares were gaining $2.90, or 55%, to $8.20.