Jefferies reiterates Hana Biosciences at buy

Hana Biosciences Inc. was reiterated at a buy and a $16 price target by Jefferies & Co., Inc. analyst Adam Walsh. The analyst believes the company is well-positioned for future growth with one drug, Zensana, under Food and Drug Administration review, three drug candidates in clinical evaluation and significant news flow expected over the next 12 months. The company reported a second-quarter 2006 non-GAAP loss per share of $0.25, $0.05 below Jefferies' $0.20 estimate. Shares of the South San Francisco, Calif.-based biopharmaceutical company were up 37 cents, or 5.50%, at $7.10, on volume of 109,132 shares versus the three-month running average of 202,442 shares. (Nasdaq: HNAB)

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