Merrill keeps New River at buy

New River Pharmaceuticals Inc. was reiterated at a buy by Merrill Lynch analyst David Munno. Merrill raised its price objective to $47 from $43 following presentation of positive phase 1/2 data on NRP290 for acute pain. The data indicated the drug had equal to better analgesia as comparator Vicodin. The next key catalysts for New River will be potential settlement on Adderall XR generics between Shire and Barr and presentation of final abuse liability data in the second quarter. Shares of the Radford, Va., pharmaceutical company were down 2 cents, or 0.06%, at $32.91 on volume of 231,808 shares versus the three-month running average of 265,817 shares. (Nasdaq: NRPH)

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