Hold - Price 9.84 on April 1
by Jefferies & Co.

Noven had preannounced 4Q, but the stock still fell [about] 14% [Monday]; '08 guidance pointing to EPS below consensus and lack of pipeline progress contributed....Noven rel[ies] heavily on the hormone-therapy franchise to remain profitable....NOVN is not cheap even [now]. Lowering target to 11. Market cap: $244 million.

From Barron's 8-19-07:

Outperform - Price 16.45 on Aug. 15
by Baird Securities
The acquisition of JDS Pharmaceuticals adds a 55-person salesforce and up to six new products to NOVN portfolio. We believe this acquisition will be accretive to NOVN in 2009 and 2010 assuming the approval of Stavzor [for bipolar disorder, migraines & epilepsy]...Market cap: $418 million. Our price target of 24 is 22.5 times our '08 EPS estimate of $1.13.

Downgraded by Deutsche Securities from Buy to Hold