Nuvelo reiterated by JMP at market outperform

Nuvelo, Inc. was reiterated by JMP Securities analyst Charles C. Duncan at market outperform and the price target was increased to $15 from $12 on news that the company entered into an alliance with Bayer HealthCare AG for global development and commercialization of alfimeprase. JMP said it believes Bayer is an ideal partner in maximizing market potential of the drug in thrombotic-related disorders. Shares of the Sunnyvale, Calif., biotechnology company were up 28 cents, or 2.21%, at $12.95 on volume of 2,803,656 shares versus the three-month running average of 454,527 shares.

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