Jefferies initiates Accentia at hold rating

Accentia Biopharmaceuticals coverage was initiated by Jefferies & Co. Inc. analyst Adam A. Walsh at a hold rating and a $7 price target. SinuNase and Biovaxid are late-stage products targeting large markets and unmet medical needs, but lack of regulatory clarity for SinNase and financing risk prompt the hold rating, Jefferies said. Shares of the Tampa, Fla., biopharmaceutical company were up 2 cents, or 3.08%, at $6.70 on volume of 7,547 shares versus the three-month running average of 22,465.4 shares.

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