Protein Design maintained by JMP at market outperform

Protein Design Labs Inc. was reiterated at a market outperform rating and a $31 price target by JMP Securities analyst Charles C. Duncan after the company hosted an analysts day highlighting clinical development programs and business achievements. JMP Securities said the company's six products currently in mid- to late-stage development, along with various product filings every year from 2006 to 2009, shows Protein Design Labs' pipeline has great depth in areas of oncology, cardiovascular disease and autoimmune disorders. Shares of the Fremont, Calif.-based biopharmaceutical company were up $0.09, or 0.32%, at $28.09 on volume of 859,104 shares versus the three-month running average of 1,839,690 shares.

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