Jefferies keeps ISTA on hold

Jefferies & Co., Inc. analyst David Windley maintained ISTA Pharmaceuticals, Inc. at hold with a $6.00 target as profitability remains an elusive goal for the company. The analyst noted that ever increasing investments in the pipeline are more than offsetting revenue growth and the company's third-quarter loss of $0.44 was 5 cents worse than estimates. Higher R&D expenses were the difference. Shares of the Irvine, Calif.-based pharmaceutical company were up 1 cent, or 0.16%, at $6.44, on volume of 28,559 shares versus the three-month running average of 49,234 shares. (Nasdaq: ISTA)

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