Merrill retains Qiagen at sell

Merrill Lynch analyst Erica Whittaker retained Qiagen at its sell rating on valuation. The company beat Merrill's first-quarter forecasts due in part to better-than-expected organic growth. The analyst raised its 2006 sales forecast by about 3% and increased its 2006 earnings per sale to $0.54 from $0.53. Shares of the Venlo, Netherlands biotechnology company were down $0.05 or 0.33%, at $15.04 on volume of 2,074,834 shares versus the three-month running average of 310,763 shares. (Nasdaq: QGEN)

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