UPDATE: Stifel Nicolaus Raises PT to $8 on Tranzyme Post Model Adjustment

Stifel Nicolaus maintained its rating on Tranzyme

and raised its price target from $6 to $8. Stifel Nicolaus said, "We recently hosted a series of investor meetings with Tranzyme management that reinforced our belief in the clinical/commercial success of TZP-102 in diabetic gastroparesis. We expect YE12 P2b data to be a defining inflection point that significantly escalates interest from potential collaborators/acquirers and believe recent deal economics for P3-ready assets in the GI space suggest additional upside from current levels. We're refining our model and increasing our 12-month target price from $6 to $8/share." Tranzyme closed at $4.75 on Wednesday.