Accentia gets buy rating from Jefferies

Accentia Biopharmaceuticals Inc. was upgraded to buy from hold by Jefferies & Co., Inc. analyst Adam Walsh. Jefferies also raised its price target to $11 from $7. The analyst expects the launch of the phase 3 SinuNase program in mid-2006 and several near-term catalysts to drive the shares. The Food and Drug Administration confirmed that the SinuNase Investigational New Drug application will remain under the direction of the Special Pathogens and Transplant Products section of CDER. Shares of the Tampa, Fla., biopharmaceutical company were up 37 cents, or 5.35%, at $7.28 on volume of 121,945 shares versus the three-month running average of 54,049 shares. (Nasdaq: ABPI)

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