Jefferies keeps Connetics at hold

Connetics Corp. was kept at a hold rating and $8.5 price target by Jefferies & Co., Inc. analyst David Windley as the company's 2007 outlook depends on timely approvals of Desilux and Primolux, as well as Soriatane's maintained exclusivity. If Connetics manages to reduce wholesaler inventories by $25 million, the analyst forecasts a $0.38 loss in the September quarter. Shares of the Palo Alto, Calif.-based pharmaceutical company were up $1.10, or 12.20%, at $10.12, on volume of 1,034,144 shares versus the three-month running average of 749,286 shares. (Nasdaq: CNCT)

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