UPDATE: PiperJaffray Downgrades Trius to Neutral Following Cubist Acquisition

In a report published on Wednesday, PiperJaffray analyst Edward Tenthoff downgraded

from Overweight to Neutral and raised the price target from $11.00 to $14.82. In the report, Tenthoff states, "We are downgrading Trius to Neutral from Overweight due to the price appreciation based on the Cubist acquisition. That said, we are increasing our price target to $14.82..." Trius Pharmaceuticals

is currently trading at $13.62 per share.