Merrill keeps BioMarin at buy

BioMarin Pharmaceutical Inc. was maintained at its buy rating by Merrill Lynch analyst Tom McGahren after the company reported a third-quarter loss of $0.08, narrower than Merrill's estimate of a $0.09 loss and consensus of a $0.12 loss. Naglazyme sales of $13 million beat the analyst's estimate and consensus of $12 million. As a result, McGahren raised his 2006 Naglazyme estimate to $45 million from $42 million but kept his Aldurazyme estimate at $97 million. Shares of the Novato, Calif.-based biopharmaceutical company were up 60 cents, or 3.82%, at $16.31. (Nasdaq: BMRN)

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