Millennium still at neutral by Merrill

Merrill Lynch analyst Tom McGahren maintained Millennium Pharmaceuticals, Inc. at a neutral rating on third quarter earnings per share of $0.02, modestly ahead of estimates and the consensus of negative $0.01, as higher royalty revenue and modestly lower expenses offset lower Velcade U.S. sales. Velcade sales were light at $53 million although demand was likely closer to Merrill's estimate of $57 million. Shares of the Cambridge, Mass.-based pharmaceutical company were up 60 cents, or 5.36%, at $11.79. (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.