UPDATE - Canaccord Genuity Downgraded Tranzyme (TZYM) to Hold; Moving to Sidelines After First Uli Phase 3 Miss
Tweet
Share
E-mailGet Alerts TZYM Hot Sheet
Price: $0.48 --0%
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Join SI Premium – FREE
UPDATE - Canaccord Genuity downgraded Tranzyme (NASDAQ: TZYM) from Buy to Hold, price target cut from $7 to $3.
Analyst, Ritu Baral, said, "Lowering rating and price target after first ulimorelin Phase 3 ULISES trial misses its primary endpoint. We are lowering our rating based on negative data from the first pivotal trial of TZYM lead drug ulimorelin (uli) in POI, which we think augurs poorly for upcoming Q2/12 data from the second uli pivotal trial. Our valuation is now driven by the potential of Phase 2 candidate TZP-102."
"We are staying on the sidelines until next uli Phase 3 reads out, and more detail gives clarity into read--through to TZP--102. We expect the second uli phase 3 trial to also miss and await detailed data (e.g., nausea, vomiting), which may represent positive 102 read-through."
To see more ratings on TZYM, Click Here
Analyst, Ritu Baral, said, "Lowering rating and price target after first ulimorelin Phase 3 ULISES trial misses its primary endpoint. We are lowering our rating based on negative data from the first pivotal trial of TZYM lead drug ulimorelin (uli) in POI, which we think augurs poorly for upcoming Q2/12 data from the second uli pivotal trial. Our valuation is now driven by the potential of Phase 2 candidate TZP-102."
"We are staying on the sidelines until next uli Phase 3 reads out, and more detail gives clarity into read--through to TZP--102. We expect the second uli phase 3 trial to also miss and await detailed data (e.g., nausea, vomiting), which may represent positive 102 read-through."
To see more ratings on TZYM, Click Here
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs Downgrades AAC Technologies Holdings Inc. (2018:HK) (AACAY) to Neutral
- OPT Machine Vision Tech Co Ltd (688686:CH) PT Raised to RMB147.60 at Macquarie
- Alibaba (9988:HK) (BABA) PT Raised to HK$188.70 at Macquarie
Create E-mail Alert Related Categories
Analyst PT Change, DowngradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
