Merrill gives Flamel neutral rating

Flamel Technologies was upgraded to a neutral rating from a sell by Merrill Lynch analyst Hari Sambasivam on concerns that the company has new leadership and a history of failed product partnerships. Flamel's market capitalization is comparable to a group of smaller drug delivery companies. Shares of the Venissieux, France, biopharmaceutical company were up $1.52, or 7.66%, at $21.37 on volume of 351,961 shares versus the three-month running average of 177,869 shares. (Nasdaq: FLML).

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