BUZZ-Buyback sends Zealand Pharma up 18% after sales beat

** Shares in Zealand Pharma ZELA.CO jump as much as 18% in early trade after the Danish biotech announced a share buyback and beat Q1 sales expectations

** With "no significant pipeline updates", JPM sees the $200 million share buyback as the key update

** "The buyback is a very strong signal of capitalization, confidence in its pipeline," says Nordnet investment economist Per Hansen

** Revenue of 34 million Danish crowns ($5.35 million) beat a Bloomberg consensus of 16 million crowns, says J.P.Morgan

** The company also reiterated its operating expenses guidance of 2.7-3.3 billion crowns

** The shares are last up 14%, at the top of the STOXX 600 .STOXX index, and on track for best day in 14 months


($1 = 6.3596 Danish crowns)


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