Merrill reiterates Theravance at buy

Theravance Inc. was reiterated at a buy by Merrill Lynch analyst Eric Ende. The company reported a fourth-quarter loss per share of $0.79, roughly in line with consensus. Merrill believes the stock could be driven by near- and long-term catalysts, including initiation of the phase 2b trials for 797 in the Beyond Advair program and phase 3 Telavancin data in complicated skin infections and pneumonia. Shares of the South San Francisco pharmaceutical company were down $1.02, or 3.41%, at $28.86 on volume of 775,056 shares versus the three-month running average of 255,109 shares. (Nasdaq: THRX)

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