Shares of Merit Medical Systems, Inc. (MMSI) are surging 6.02% in pre-market trading on Friday, as investors react to a series of analyst target price increases for the medical device company.

Wells Fargo has raised its target price for Merit Medical from $100 to $103, while Piper Sandler has increased its target from $105 to $109. Additionally, Needham has maintained its target price at $108 per share. These positive adjustments from multiple analysts suggest growing confidence in Merit Medical's future performance and potential upside.

The collective boost in analyst sentiment appears to be driving investor enthusiasm, resulting in the significant pre-market rally for Merit Medical's stock. As the trading day progresses, it will be interesting to see if the stock maintains its momentum and if additional analyst commentary emerges to further support the price movement.