RBC has Angiotech at outperform

Angiotech Pharmaceuticals Inc. was rated at outperform, speculative risk, by RBC Capital Markets analyst Douglas Miehm after the company reported third-quarter adjusted net earnings of $0.19 per share, compared with RBC's estimated earnings of $0.20 per share. The company reported revenues of $86.3 million, below the analyst's estimate of $93.6 million and consensus of $95.6 million. As expected, guidance was lowered due to lowering Taxus royalty outlook, with 2006 earnings per share guidance now at $0.70 to $0.72 from $0.79 to $0.81 originally. Shares of the Vancouver, B.C.-based medical technology company were down 31 cents, or 3.46%, at $8.64. (Nasdaq: ANPI)

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