ISTA on hold by Jefferies

ISTA Pharmaceuticals, Inc. was reiterated at a hold rating and a $7.50 price target by Jefferies & Co., Inc. analyst David Windley on management's bullish commentary on the company's conference call, despite the modest prescription increases Jefferies noted in Istalol and Xibrom. Management's 2006 revenue indication (mid-$30 millions) looks unachievable. Shares of the Irvine, Calif., pharmaceutical company were up 10 cents, or 1.64%, at $6.19 on volume of 108,462 shares versus the three-month running average of 136,376 shares. (Nasdaq: ISTA)

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