ISTA at hold by Jefferies

ISTA Pharmaceuticals Inc. was given a hold rating and a $7.50 price target by Jefferies & Co., Inc. analyst David Windley on news that the company missed Jefferies' revenue and earnings-per-share estimate for the fourth quarter. Net revenues were $3.7 million, missing the analyst's forecast by $0.3 million. Consensus was $4.9 million. Lower revenue and higher R&D and SG&A expenses led to a five-cent miss on earnings per share relative to the analyst's estimate of a $0.36 loss. Consensus was a $0.31 loss. Shares of the Irvine, Calif., pharmaceutical company were down 42 cents, or 6.45%, at $6.09 on volume of 273,897 shares versus the three-month running average of 132,827 shares. (Nasdaq: ISTA)

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