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Sirtex Medical soars 7% on Macquarie upgrade

Sirtex Medical (ASX: SRX), a biotech company that specialises in liver cancer treatments, jumped 7% higher to around $11 on Thursday after an upgrade from Macquarie.

“Macquarie rates SIRTEX MEDICAL as Outperform, with a price target of $14.30. Macquarie is very confident about the growth prospects for this company, not just in terms of market conditions but also clinical outcomes, new avenues for growth and the strategic direction.”

Sirtex shares have jumped 113% over the past year on the back of strong dose sales of its SIR-Spheres microspheres targeted radioactive liver cancer treatment. Although trading at a premium valuation, the future continues to look bright for Sirtex.

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