Noven at hold by Jefferies

Noven Pharmaceuticals Inc. was reiterated at a hold rating and given a $16.50 price target by Jefferies & Co., Inc. analyst David Windley. While Daytrana has been refiled with the Food and Drug Administration, no review classification or response time has been set. Company management commented on three new collaborations, without much detail. Noven reported fourth-quarter 2005 earnings per share of $11 on an adjusted basis, compared to Jefferies and consensus of $0.10 and $0.11 for the same period in 2004. Shares of the Miami, Fla., pharmaceutical company were up 36 cents, or 2.37%, at $15.52 on volume of 302,380 shares versus the three-month running average of 236,308 shares. (Nasdaq: NOVN)

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