Jefferies keeps Cephalon on hold

Cephalon, Inc. was maintained at hold with a $68 price target by Jefferies & Co., Inc. analyst David Windley on what he called a relatively benign Food and Drug Administration's response to Fentora, clearing it six months ahead of expectations. This good news is offset by uncertainty again around Provigil following Apotex's lawsuit against Cephalon and others. Shares of the Frazer, Pa.-based pharmaceutical company were up $5.84, or 5.84%, at $60.10 on volume of 8,045,706 shares versus the three-month running average of 1,857,860 shares. (Nasdaq: CEPH)

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