ISTA on hold by Jefferies

ISTA Pharmaceuticals Inc. was maintained at hold by Jefferies & Co., Inc. analyst David Windley. Despite price increases for Xibrom and Istalol, management's revenue forecast in the mid-$30 million range appears optimistic. Jefferies lowered its price target to $7. ISTA reported a per share loss of $0.39, compared with Jefferies' estimate of a $0.35 loss. Shares of the Irvine, Calif., pharmaceutical company were down 23 cents, or 3.87%, at $5.71 on volume of 59,375 shares versus the three-month running average of 82,916 shares. (Nasdaq: ISTA)

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