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Cephalon kept at neutral by Merrill
Cephalon, Inc. was maintained at a neutral rating by Merrill Lynch analyst Gregg Gilbert on news of the non-approvable letter from the Food and Drug Administration for Sparlon for ADHD. Merrill's model did not include sales or expenses associated with Sparlon. Cephalon expects approval of Fentora in September followed by launch in early fourth quarter. The success of Fentora in the face of generic Actiq will be a crucial driver for the stock, according to the analyst. Shares of the Frazer, Pa.-based pharmaceutical company were down $8.05, or 12.59%, at $55.90 on volume of 13,521,597 shares versus the three-month running average of 1,931,670 shares. (Nasdaq: CEPH)
Human Genome at buy by Merrill
Merrill Lynch analyst Hari Sambasivam rated Human Genome Sciences, Inc. at a buy. The company reported revenues of $2.2 million, expenses of $79.2 million and loss per share of 45 cents, compared to the analyst's estimates of $55.0 million, $80 million, and a loss of $0.18, respectively. Selected milestones for Human Genome include disclosure of phase 2b data for Albuferon and for LymphoStat B, as well as the start of phase 3 trials for Albuferon. Shares of the Rockville, Md.-based biopharmaceutical company were down 14 cents, or 1.43%, at $9.64, on volume of 1,856,053 shares versus the three-month running average of 3,132,910 shares. (Nasdaq: HGSI)
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