Biovail rated at outperform by RBC

Biovail Corp. was rated by RBC Capital Markets analyst Douglas Miehm at outperform, above average risk, with a $21 price target on news of the company's third-quarter 2006 financial results. The company reported adjusted earnings per share of $0.83, compared with the analyst's estimate of $0.64 and the consensus estimate of $0.65. The reported results were also higher than management's previously released guidance of $0.60 to $0.70. Biovail's strengths seem to be Wellbutrin XL, Cardizem LA and Legacy products. Shares of the Mississauga, Ont.-based pharmaceutical company were up 10 cents, or 0.62%, at $16.31. (NYSE: BVF)

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