UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Synageva BioPharma Corp. as Brain-Blood Barrier Study is Good Next Step

In a report published Tuesday, Morgan Stanley analyst David Friedman reiterated an Overweight rating on

, but removed the $118.00 price target. In the report, Morgan Stanley “Synageva recently started an MPS3b pt study (n=6) where they will be assessing the degree of blood-brain barrier (BBB) leakage. Based on their pre-clin animal work, the route of dosing for SBC-103, their drug for MPS3b, is still undetermined between IV or intrathecal (IT). A key first step for the company and the Street is to identify whether the BBB of MPS3b pts is ‘leaky enough' to accommodate efficient IV dosing.” Synageva BioPharma Corp. closed on Monday at $82.97.