Merrill maintains MGI Pharma at buy

MGI Pharma Inc. was kept at a buy rating by Merrill Lynch analyst Eric Ende with an increased price target of $25, from $22. Merrill is maintaining its Aloxi sales estimate of $280 million for 2006, with the possibility of peaking at $300 million. Shares of the Bloomington, Minn.-based biopharmaceutical company were up 54 cents, or 2.77%, at $20.05 on volume of 1,139,543 shares versus the three-month running average of 1,169,080 shares. (Nasdaq: MOGN)

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