Piper Jaffray analyst Charles Duncan upgraded before the market opened shares of BioCryst Pharmaceuticals to Overweight from Neutral. The analyst raised his price target for the shares to $8 from $5. Duncan thinks the company is "back on track and well-funded" to produce the first meaningful Phase II results as early as yearend after it dosed the first patient in its APeX-1 trial of '7353. The analyst continues to believe that an oral candidate for hereditary angioedema attack prevention can produce "significant clinical value." BioCryst is up 7% in late morning trading to $5.37.