UPDATE: Wedbush Securities Reiterates Outperform Rating, Raises PT on Synageva BioPharma Corp.

In a report published Wednesday, Wedbush Securities reiterated its Outperform rating on Synageva BioPharma Corp. GEVA, and raised its price target from $42.00 to $50.00. Wedbush Securities noted, “In an abstract at AALSD, the company reported that in 3 of 7 subjects where MRI data were available, there was a reduction in liver fat fractions, indicating that, in addition to normalization of liver enzymes and lipids, patients could be seeing additional clinical benefit with SBC-102 treatment. We expect updates to these data as they become available at AALSD and LDN (Q1:13).” Synageva BioPharma Corp. closed on Tuesday at $42.85.