JMP reiterates Cytogen at market outperform

Cytogen Corp. was reiterated by JMP Securities analyst Charles C. Duncan at market outperform and a $6 price target. While the company's second-quarter results were mixed, commercial and clinical news flow improves Cytogen's outlook in the second half of the year. The company's quarterly results were not inspiring on the top line but met forecasts on the bottom line. Cytogen had revenues of $4.2 million and net income of $7.2 million, or $0.32 per share. Shares of the Princeton, N.J.-based biopharmaceutical company were up 8 cents, or 3.39%, at $2.44, on volume of 103,135 shares versus the three-month running average of 101,795 shares. (Nasdaq: CYTO)

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