Connetics at outperform by RBC

RBC Capital Markets analyst Ken Trbovich rated Connetics Corp. at outperform, speculative risk, on weak second-quarter results. The company reported a loss of $2.2 million, or $0.06 per share, for the quarter on $43.8 million in revenues. Management reduced channel inventories by $7.2 million and expects an additional reduction of nearly $25 million to occur almost entirely in the third quarter. According to the analyst, it is questionable whether Connetics can remain independent. Shares of the Palo Alto, Calif.-based pharmaceutical company were up $1.10, or 12.20%, at $10.12, on volume of 1,034,144 shares versus the three-month running average of 749,286 shares. (Nasdaq: CNCT)

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