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Dyax climbs as analyst raises price target

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Burlington-based Dyax Corp. got a higher price target from Needham & Co. analyst Serge Belanger, who reiterated a “buy” rating. The new price target is $13, up from $7.50, thanks to the experimental drug DX2930. “The DYAX story . . . now centers on DX2930, the company’s antibody under development for prophylactic HAE treatment,” Belanger said. He expects favorable study data soon. The drug is for hereditary angioedema, a rare acute inflammatory condition with severe swelling of the extremities, gastrointestinal tract, genitalia, and larynx.

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