Jefferies reiterates Cypress at buy

Jefferies & Co., Inc. analyst Adam Walsh reiterated Cypress Bioscience, Inc. at buy after a company conference call. Jefferies is confident the second phase 3 trial results due next year will be positive. Shares of the San Diego-based pharmaceutical company were up 10 cents, or 1.59%, at $6.38 on volume of 376,070 shares versus the three-month running average of 377,120 shares. (Nasdaq: CYPB)

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