Accentia maintained by Jefferies at hold

Accentia Biopharmaceuticals was maintained by Jefferies & Co. Inc. analyst Adam A. Walsh at a hold rating and a $7 price target after the company announced the acquisition of U.S. marketing rights to AllerNase, an intranasal steroid to treat allergies. The intranasal steroid market in the United States is estimated at $2.7 billion. With many allergy medications going over-the-counter, Jefferies said it expects nasal spray prescriptions to rise. Risks are clinical and regulatory for pipeline products and financing, Jefferies added. Shares of the Tampa, Fla., biopharmaceutical company were up $0.06, or 0.90%, at $6.76 on volume of 10,586 shares versus the three-month running average of 21,914.8 shares.

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