Martek at sell by Merrill

Merrill Lynch analyst David Munno rated Martek Biosciences Corp. at sell after the company reported second-quarter sales slightly ahead of the analyst's expectations. The company had earnings per share of $0.21 compared to Merrill's estimate of $0.16. Sales in Martek's core formula business were $63.3 million, above Merrill's estimate of $62.9 million. Shares of the Columbia, Md.-based pharmaceutical company were up $2.91, or 11.54%, at $28.12 on volume of 5,669,758 shares versus the three-month running average of 754,825 shares. (Nasdaq: MATK)

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