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UPDATE: Piper Jaffray Lifts Synageva PT on Attractive Upcoming LAL-D Treatment

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Synageva Reports Closing of Targeted Enrollment in Phase 1/2 Trial with SBC-103 for Mucopholysaccharidosis IIIB

Piper Jaffray published a report Monday that maintained a Neutral rating on Synageva (NASDAQ: GEVA) and raised its price target from $53 to $57.

Piper Jaffray noted, "We continue to believe sebelipase alfa represents an attractive treatment option for LAL-D, with recent 38 week Phase I/II data providing additional confirmation of the drug's long-term clinical utility. Despite our enthusiasm for sebelipase alfa, we remain Neutral on GEVA shares given what we see to be an absence of meaningful newsflow following the commencement of the ARISE Phase III trial in January. While we remain positive on GEVA shares over the longer term, we believe shares will remain range-bound as the trial progresses."

Synageva closed Monday at $54.28.

Latest Ratings for GEVA

DateFirmActionFromTo
May 2015BairdDowngradesOutperformNeutral
Mar 2015JP MorganDowngradesOverweightNeutral
Feb 2015CitigroupMaintainsNeutral

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