Jefferies rates 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 that it's unlikely GlaxoSmithKline will try to block the Zensana launch by suing Hana for infringement of the Zofran patent '658. In addition, the analyst expects the Zensana New Drug Application to be accepted by the Food and Drug Administration. Shares of the South San Francisco, Calif.-based development-stage biopharmaceutical company were down 3 cents, or 0.42%, at $7.04, on volume of 124,476 shares versus the three-month running average of 185,537 shares. (Nasdaq: HNAB)

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