Cypress on hold by Jefferies

Cypress Bioscience, Inc. was given a hold rating and a $6 price target by Jefferies & Co., Inc. analyst Adam Walsh. Jefferies believes the company's cash position will enable it to carry out its stated objectives. Cypress reported a fourth-quarter 2005 loss per share of $0.06, compared to Jefferies' estimate of $0.09 and four cents lower than consensus. Shares of the San Diego biotechnology company were down 2 cents, or 0.34%, at $5.95 on volume of 200,371 shares versus the three-month running average of 263,475 shares. (Nasdaq: CYPB)

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