RBC reiterates Alexza at outperform

Alexza Pharmaceuticals, Inc. was reiterated at outperform, above average risk, by RBC Capital Markets analyst Jason Kantor on news of the company's second-quarter results that were in line with the analyst's expectations. Positive phase 2b data for Alexza's migraine drug should lead to stock appreciation over the next 12 months, according to the analyst. RBC also looks for the company to sign a corporate partner for one of its clinical candidates, possibly AZ-001. Shares of the Palo Alto, Calif.-based development-stage company were up 35 cents, or 5.69%, at $6.51, on volume of 8,034 shares versus the three-month running average of 69,700 shares. (Nasdaq: ALXA)

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