CollaGenex kept at outperform, $19 target, by RBC

RBC Capital Markets analyst Ken Trbovich kept CollaGenex Pharmaceuticals, Inc. at outperform, speculative risk, and a $19 price target after the company's third-quarter revenue of $5.6 million beat RBC's estimate of $4.6 million. The company's 2006 guidance is in-line with expectations. CollaGenex' incyclinide acne product is on schedule to finish a phase 2 trial in the fourth-quarter 2006, with results reported in the first half of next year. Shares of the Newtown, Pa.-based specialty pharmaceutical company were down 67 cents, or 4.71%, at $13.57. (Nasdaq: CGPI)

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