Noven reiterated at hold by Jefferies

Noven Pharmaceuticals was reiterated by Jefferies & Co. Inc. analyst David Windley at a hold rating after Daytrana, the primary catalyst of Jefferies' former buy rating, looked like it would not be recommended for approval Dec. 2 by an FDA advisory panel. Instead, less than 24 hours later, the reviewer abruptly reversed the recommendation. The analyst said the slope of the drug's launch curve and stock stabilization need to be re-evaluated after pricing. Shares of the Miami transdermal drug delivery company were up $4.64, or 41.54%, at $15.81 on volume of 7,573,750 shares versus the three-month running average of 369,630 shares.

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