Flamel at neutral by Merrill

Flamel Technologies SA was kept at its neutral rating by Merrill Lynch analyst Hari Sambasivam. The company is to report fourth-quarter 2005 results on Tuesday. Merrill's estimates for the quarter include total revenues of $6.5 million, compared with $18.7 million for the same period last year, and a net loss of $8.2 million, or $0.35 per share, compared with net income of $6.5 million, or $0.28 per share, in the fourth quarter of 2004. The analyst's revised 2005 estimates are more in line with consensus, with a fourth-quarter loss per share of $0.35 from $0.29 and full-year loss per share of $1.25 from $1.20. Shares of the Venissieux, France, biopharmaceutical company were down $1.21, or 5.08%, at $22.59 on volume of 139,020 shares versus the three-month running average of 191,843 shares. (Nasdaq: FLML)

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