Merrill Lynch maintains Alkermes at buy

Alkermes Inc. was maintained by Merrill Lynch analyst Hari Sambasivam at a buy rating after the company's 2006 fiscal year's second-quarter results were better than estimates, including total revenue of $46.7 million, with schizophrenia drug Risperdal Consta end-user sales of $161 million and earnings per share of $0.12. Because the FDA has extended the review of several new drug applications in the last few months, the company said the Vivitrex delay was more due to FDA overload than problems with the drug, Merrill Lynch said. Shares of the Cambridge, Mass., drug development company were up $2.11, or 12.50% at $18.99 on volume of 2,772,038 shares versus the three-month running average of 1,117,930 shares.

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