Piper Jaffray Reiterates Trius Therapeutics Overweight Rating, $7 PT (TSRX)

Piper Jaffray reiterated its Trius Therapeutics TSRX Overweight rating and $7 price target in a research report published today. In the report, Piper Jaffray states, "We believe Trius is a unique opportunity to buy a potential best-in-class antibiotic at a steep discount with the possibility for significant price appreciation ahead of pivotal data and an overseas partnership. Due to limited competition for Acute Bacterial Skin and Skin Structure Infection (ABSSSI) patients in clinical trials, we believe the Phase III trial is enrolling rapidly. Trius intends to sign an overseas partner for Torezolid while retaining U.S. rights. Such a deal could pull forward start of the second pivotal study and accelerate approval. Trius is also exploring the use of Torezolid in other infections potentially expanding the drug's market opportunity." Shares of Trius Therapeutics closed Friday at $4.30, down 2.27% from Thursday's market close.