JMP reiterates Anadys at strong buy

Anadys Pharmaceuticals Inc. was reiterated at a strong buy with a $17 target price by JMP Securities analyst Adam Cutler, who described third-quarter results as a non-event and emphasized positive product developments including initiation of phase-1b trials for ANA975 - described by Cutler as a potentially significant catalyst for Anadys' stock - positive data concerning the efficacy of ANA380 and a potential partnership with Novartis to license it. Shares of the San Diego, Calif.-based biopharmaceutical company were up $0.51, or 5.35%, at $10.04 on volume of 109,134 shares versus the three-month running average of 166,352 shares.

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