Discovery Labs reiterated by Jefferies at buy

Discovery Laboratories Inc. was reiterated by Jefferies & Co. Inc. analyst Adam A. Walsh at a buy rating and a $10 price target. The company recently announced the acquisition of Laureate Pharma's 21,000-square-foot manufacturing operation in New Jersey for $16 million. This move should allow the company operational control over its SRT manufacturing, which should provide added flexibility and potentially improved economics for commercialized products. Shares of the Warrington, Pa., biotechnology company were up 8 cents, or 1.14%, at $7.09 on volume of 689,151 shares versus the three-month running average of 477,351 shares.

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