Noven Pharma sheds 10% on analyst downgrade

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Noven Pharmaceuticals Inc. (Nasdaq:NOVN) is down 10% today after analysts and Jeffries & Co. downgraded the Miami, Fla.-based specialty pharmaceutical company to “underperform” from “hold.” Analysts cited weaker sales in key products as the reason for the downgrade. The stock is down $1.07 to $9.72 less than an hour before the market close. Trading volume for Noven Pharmaceuticals is more than double the average at about 500,000 shares.

For detailed price information and recent news stories on Noven Pharmaceuticals Inc., click NOVN.