Jefferies reiterates Cypress at buy

Cypress Bioscience Inc. was reiterated at a buy and a $14 price target by Jefferies & Co., Inc. analyst Adam Walsh on news that the stocks are trading close to cash. Positives for the company include milnacipran in second and third phase 3 trials, which are expected to be successful, according to the analyst. Cypress reported a second-quarter loss per share of $0.07, above Jefferies' estimate of $0.13 loss per share. Shares of the San Diego-based pharmaceutical company were up 1 cent, or 0.18%, at $5.66, on volume of 113,906 shares versus the three-month running average of 303,828 shares. (Nasdaq: CYPB)

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