Merrill keeps Martek at neutral

Martek Biosciences Corp. remained at neutral by Merrill Lynch analyst David Munno as the restructuring of its plan operations and migrating its internal manufacturing to its more efficient facility reduced the cost structure for the company. The move should improve Martek's gross margin by 300 bp by effectively shifting the idle facility charge to the lower cost Winchester facility. However, the restructuring reduces capacity and suggests that the launch and ramp of DHA for food sales will be slower than the Street expects. Shares of the Columbia, Md.-based pharmaceutical company were down 14 cents, or 0.57%, at $24.28. (Nasdaq: MATK)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.