UPDATE: Stifel Nicolaus Downgrades ISTA Pharmaceuticals to Hold

Stifel Nicolaus is out with its report today on ISTA Pharmaceuticals ISTA, downgrading ISTA to Hold. In its report, Stifel Nicolaus writes, "We move to the sidelines and downgrade ISTA to Hold, under the view that shares are fairly valued. We await signs of renewed momentum in the bromfenac franchise and pipeline." Shares of ISTA closed Thursday at $7.20.