Noven price target lowered by Jefferies

Noven Pharmaceuticals Inc. was maintained by Jefferies & Co. analyst David Windley at a buy rating but the price target on the stock was lowered to $16 per share from $20 following the FDA's rejection of Noven's abbreviated New Drug Application to sell a generic version of the pain patch Duragesic. Noven shares Thursday were up $0.18, or 1.38%, at $13.24 on volume of 1,061,674 shares versus the three-month running average of 169,589 shares.

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