Eris Lifesciences soars 7%, hits five-month high in a weak market

Eris Lifesciences, a small-sized pharmaceutical company, has caught the fancy of investors. The stock, on Friday, jumped 7 per cent on huge volumes to end at Rs 474. In the past few weeks, the counter has been clocking huge volumes. In October, some large domestic mutual funds took an aggressive position in the stock, monthly disclosures show. Citibank raised the price target on the stock to Rs 750, higher than the consensus target of Rs 600. “The trading pattern and recent buying activity shows, the recent rally in Eris Lifesciences has more legs to it,” said an analyst.