Millennium kept at neutral by Merrill

Merrill Lynch analyst Tom McGahren maintained Millennium Pharmaceuticals, Inc. at neutral based on NDC monthly Velcade sales data for July and August and company statements concerning the outlook. As a result, McGahren lowered third-quarter 2006 Velcade sales estimate modestly to $57 million, from $61 million. The company reported Velcade sales of $59 million last quarter. Merrill's full-year Velcade estimates were lowered to $232 million, from $238 million in 2006 and to $280 million, from $295 million in 2007. Shares of the Cambridge, Mass.-based pharmaceutical company were unchanged at $10.15. (Nasdaq: MLNM)

© 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.