Merrill maintains Amgen at neutral

Amgen Inc. maintained its neutral rating from Merrill Lynch analyst Eric Ende after the company reported a weak first quarter due to lower-than-expected product sales, namely Neupogen/Neulasta and Enbrel. Merrill lowered its earnings-per-share estimates to $3.66 from $3.67 and its 2007 projected earnings per share to $4.06 from $4.07. Shares of the Thousand Oaks, Calif., biotechnology company were down $2.67, or 3.76%, at $68.30 on volume of 22,624,697 shares versus the three-month running average of 10,938,700 shares. (Nasdaq: AMGN)

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