RBC Connetics outperform

Connetics Corp. was rated by RBC Capital Markets analyst Ken Trbovich at outperform, speculative risk, on news that Pfizer will launch Rogaine Foam in by the early fourth quarter. Pfizer's product uses Connetics foam technology and the company will receive 6% to 7% royalty on sales. The analyst believes the company's stock is undervalued in the short run relative to the value of the approved products and potential of the pipeline. Shares of the Palo Alto, Calif.-based pharmaceutical company were down 10 cents, or 0.99%, at $10.02, on volume of 686,600 shares versus the three-month running average of 753,609 shares. (Nasdaq: CNCT)

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