Millennium maintained by Merrill Lynch at neutral

Millennium was maintained by Merrill Lynch analyst Thomas McGahren at a neutral rating as the company announced its 2005 Velcade sales of $192 million, just shy of Merrill's $193 million estimate. The company's guidance for 2006 includes higher royalty and strategic alliance revenue estimates, which more than offset lower Velcade estimates. Merrill said it is raising its earnings-per-share estimates to flat from a loss of $0.13 in 2006, to $0.14 per share from $0.09 in 2007 and to $0.21 per share from $0.20 in 2008. Shares of the Cambridge, Mass., pharmaceutical company were up 17 cents, or 1.69%, at $10.22 on volume of 4,308,399 shares versus the three-running average of 4,620,100 shares.

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