SciClone on hold by Jefferies

Jefferies & Co., Inc. analyst Adam Walsh reiterated SciClone Pharmaceuticals, Inc. at a hold rating with a 12- to 18-month price target of $2.50. Jefferies does not believe there will be a positive outcome in the second phase 3 Zadaxin hepatitis C virus trial, based on the harder-to-treat population. The company reported a first-quarter loss per share of $0.05, one cent below the analyst's estimate and two cents below Street consensus. Shares of the San Mateo, Calif., biopharmaceutical company were up 4 cents, or 1.48%, at $2.75 on volume of 84,533 shares versus the three-month running average of 443,497 shares. (Nasdaq: SCLN)

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