Genzyme maintained at neutral by Merrill

Genzyme Corp. was maintained at its neutral rating by Merrill Lynch analyst Eric Ende. The company's first-quarter 2006 earnings were mixed with lower-than-expected revenue. Genzyme reported non-GAAP earnings per share of $0.59, one cent below the analyst's estimate, and below consensus by $0.04. With top and bottom line results expected to pick up, the company is maintaining its revenue and earnings-per-share guidance for 2006. Shares of the Cambridge, Mass., biotechnology company were down $5.13, or 7.80%, at $60.65 on volume of 14,153,639 shares versus the three-month running average of 2,134,120 shares. (Nasdaq: GENZ)

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