Merrill Lynch maintains MedImmune at neutral

MedImmune Inc. was maintained by Merrill Lynch analyst Eric Ende at a neutral rating after third-quarter results on earnings per share of $0.25 were lower than Merrill Lynch's $0.26 estimate but higher than consensus of $0.22. Higher-than-expected seasonal international shipments of Synagis and higher gross margin were offset by higher research and development expenses. Merrill Lynch said additional product revenue sources are necessary for the company to reach its earnings per share goal of $2 in 2009. Shares of the Gaithersburg, Md., biotechnology company were down $0.49, or 1.45%, at $33.26 on volume of 2,951,439 shares versus the three-month running average of 2,730,320 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.