Qiagen reiterated at hold by Jefferies

Qiagen NV was reiterated by Jefferies International Ltd. analyst Nick Turner at a hold rating after third-quarter financial results missed guidance. Fiscal year guidance was revised downward. Third-quarter revenue of $98.7 million was much lower than estimates of $104.9 million and guidance of $105 million to $107 million. Looking ahead to 2006, it appears the company will be dependent on acquisitions to meet its growth targets, Jefferies said. Shares of the biotechnology company, based in Venlo, the Netherlands, were up 10 cents, or 0.88%, at $11.40 on volume of 203,332 shares versus the three-month running average of 213,875 shares.

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