Discover Labs rated at buy by Jefferies

Discovery Laboratories was rated at buy by Jefferies & Co., Inc. analyst Adam Walsh. Jefferies believes that while Street expectations for a negative outcome in the Surfaxin ARDS trial have pressured the company's stock, the data will be at worst a neutral event, and at best a significant driver. The analyst expects top-line results of the company's phase 2 trail testing Surfaxin in Acute Respiratory Distress Syndrome (ARDS) by the end of the month. Shares of the Warrington, Pa., biopharmaceutical company were up 15 cents, or 1.92%, at $7.95 on volume of 486,806 shares versus the three-month running average of 500,493 shares. (Nasdaq: DSCO)

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