Merrill puts Axcan at neutral

Axcan Pharma Inc. was given a neutral rating by Merrill Lynch analyst Hari Sambasivam on reported first-quarter 2006 revenues of $70.6 million, well above Merrill's estimate of $62.5 million. Expenses of $56.4 million were slightly above the analyst's estimate of $51.3 million, with diluted earnings per share (as converted) of $0.19, above Merrill's estimate of $0.14 and consensus of $0.15. Shares of the Mount-Saint-Hilaire, Quebec, pharmaceutical company were down 33 cents, or 1.90%, at $17.01 on volume of 990,042 shares versus the three-month running average of 338,475 shares. (Nasdaq: AXCA)

© 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.