JMP reiterates Oscient outperform rating

Oscient Pharmaceuticals Corp. was reiterated at market outperform with a $3 target price by JMP Securities analyst Adam Cutler after the company announced better-than-expected third-quarter results, including a loss per share of $0.29, lower than JMP's $0.32 estimate. Cutler said the upside was driven by higher-than-expected revenue and lower-than-expected operating expenses. Shares of the Waltham, Mass.-based pharmaceutical company were up $0.04, or 2.21%, at $1.85 on volume of 354,464 shares versus the three-month running average of 707,605 shares.

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