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Jefferies rates Albany at underperform
Albany Molecular Research, Inc. was given an underperform rating by Jefferies & Co., Inc. analyst David Windley. A recent court ruling that denied sanofi-aventis/Albany's request for a preliminary injunction allows the continuing generic erosion of Allegra sales and decline of Albany's royalty stream, which represents its primary profit stream. Jefferies said it expects the stock to decline further. Shares of the Albany, N.Y., pharmaceutical company were down 23 cents, or 1.99%, at $11.31 on volume of 153,984 shares versus the three-month running average of 155,525 shares. (Nasdaq: AMRI)
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