JMP reiterates Nuvelo at outperform

Nuvelo Inc. was reiterated at market outperform with a $12 target price by JMP Securities analysts Charles C. Duncan and Anthony Ostrea after the company beat JMP's loss-per-share estimate of $0.45 by $0.01 and reported significant progress in clinical development programs, including those for its alfimeprase, Sonoma-2, rNAPc2, NU206 and ARC183 drugs. Shares of the Sunnyvale, Calif.-based biopharmaceutical company were up $0.13, or 1.59%, at $8.32 on volume of 143,246 shares versus the three-month running average of 222,970 shares.

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