Analyst initiations: DRRX, RRGB and VPHM

MOST NOTEWORTHY: Durect, Red Robin Gourmet and ViroPharma were today's noteworthy initiations:

RBC Capital thinks Durect's (NASDAQ: DRRX) overall portfolio is very attractive and started shares with an Outperform rating and $7 target.
Red Robin Gourmet (NASDAQ: RRGB) was initiated at Jefferies with a Buy rating and $40 target. The firm believes the company has one of the few stable earnings stories in the sector, which should warrant a valuation premium in the current environment.
JMP Securities believes ViroPharma's (NASDAQ: VPHM) valuation reflects several negative scenarios and notes that earnings will likely remain positive and that the company has a strong balance sheet; shares were initiated with an Outperform rating and $12 target.

OTHER INITIATIONS:

Harmonic (NASDAQ: HLIT) was assumed with an Overweight rating and $14 target at Stephens.
ThinkEquity initiated Intuitive Surgical (NASDAQ: ISRG) with a Buy rating and $360 target.
Broadpoint started Salesforce.com (NYSE: CRM) with a Buy rating.

Tags: analyst, crm, drrx, durect, harmonic, hlit, initiation, intuitive surgical, IntuitiveSurgical, isrg, red robin gourmet, RedRobinGourmet, rrgb, salesforce.com, viropharma, vphm

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