Barr Shares Rise on Lehman Outlook

The stock rose $1.81, or 3.7 percent, to $51.32 in afternoon trading.

Analyst Richard B. Silver also reaffirmed a $59 price target, citing the combination of upcoming catalysts, including Food and Drug Administration approval of a generic version of the birth-control pill Yasmin. At risk launches of both Yasmin and Mirapex for Parkinson's disease could also boost the company's annual profit.

At-risk launches refer to the marketing of a generic drug before the patent has expired on a branded version. Generic drug developers including Teva Pharmaceutical Industries Ltd. and Barr have been more aggressively challenging patents and launching generic drugs before patent expiration.

"Rich generic pipeline with additional possible litigation wins and launches plus lower profile brand launches further bolster Barr's outlook," he said.