JMP reiterates Cytogen at outperform

Cytogen Corp. was reiterated at market outperfom by JMP analysts Charles C. Duncan and Anthony Ostrea after third-quarter results showed revenues down 15% over last quarter and a loss of $0.44 per share. Duncan and Ostrea lowered the price target to $6 from $10, but emphasized the company's progressing clinical development programs for Quadramet and ProstScint and said, "we continue to believe Cytogen's shares should appeal to value-oriented, patient investors." Shares of the Princeton, N.J.-based biopharmaceutical company were up $0.06, or 2.05%, at $2.98 on volume of 93,220 shares versus the three-month running average of 124,338 shares.

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