Forest Labs reiterated by Jefferies at hold

Forest Laboratories Inc. was maintained by Jefferies & Co. analyst David Windley at a hold rating with a price target on the stock of $40 per share following news from the company and Cypress Bioscience Inc. that their fibromyalgia drug milnacipran fell short of its primary endpoint in their initial phase III study. Forest Labs shares Thursday were down $3.80, or 8.98%, at $38.50 on volume of 11,210,000 shares versus the three-month running average of 1,678,130 shares.

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