Synageva BioPharma Jumps on Canaccord Genuity Initiation
Shares of Synageva BioPharma (NASDAQ: GEVA) are bucking the broader market trend on Monday after analysts at Canaccord Genuity initiated the stock with a Buy rating and a $60.00 price target. At last check, shares had added around 5% to $40.34.
The firm uses a blended valuation model to reach their price target - a sum-of-the-parts analysis and a discounted-EPS model. They wrote that "Synageva is a player in ultra-orphan diseases - an attractive, proven business model."
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.