Altus kept at buy by Merrill

Altus Pharmaceuticals Inc. was maintained by Merrill Lynch analyst Tom McGahren at a buy rating after the company reported a first-quarter loss per share of $0.76, compared to the analyst's estimate of $0.48 (in-line following adjustments for share count from the IPO). Altus reiterated its full-year guidance for operating expenses of about $55 million to $65million. Management is crystallizing plans for phase 3 trials for ALTU-135 and ALTU-238. Shares of the Cambridge, Mass., biopharmaceutical company were down 24 cents, or 1.20%, at $19.76 on volume of 58,072 shares versus the three-month running average of 109,311 shares. (Nasdaq: ALTU)

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