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Angiotech kept at buy by Merrill
Merrill Lynch analyst Hari Sambasivam maintained Angiotech Pharmaceuticals Inc. at a buy after the company's partner, Boston Scientific, pre-announced third-quarter Taxus sales (which affects Angiotech's fourth quarter), projecting a range of $550 million to $580 million, below Merrill's estimate of $610 million. The analyst estimates a negative impact of $0.02 to his earnings-per-share estimate of $0.16, while Taxus royalties represent 39% of Merrill's revenue estimate for the fourth quarter. Shares of the Vancouver, B.C.-based medical technology company were down $1.17, or 11.17%, at $9.30. (Nasdaq: ANPI)
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