UPDATE: Canaccord Genuity Upgrades Tranzyme Pharma to Buy on TZP-102 Success Outlook

Canaccord Genuity raised its rating on Tranzyme Pharma

from Hold to Buy and increased its price target from $3 to $7. Canaccord Genuity commented, "Post uli, our valuation is now driven solely by the potential of Ph2 candidate TZP-102 for gastroparesis. It may have a different clinical risk profile from uli based on differences between POI and gastroparesis. We are raising our pNPV-based target from $3 to $7 based on a higher chance of TZ-102's clinical and regulatory success." Tranzyme Pharma closed at $4.24 on Friday.