New River reiterated at buy by Merrill

New River Pharmaceuticals Inc. was reiterated at a buy rating by Merrill Lynch analyst David Munno following a meeting with company management. Merrill believes data will suggest NRP104 should receive Schedule 3 or 4 classification after approval. Also, the 74-day correspondence with FDA indicated no apparent deficiencies in the application. New River is one of the analyst's top biotech picks for 2006. Shares of the Radford, Va., pharmaceutical company were down 98 cents, or 2.97%, at $32.01 on volume of 218,942 shares versus the three-month running average of 277, 884 shares. (Nasdaq: NRPH)

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