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Merrill Lynch maintains MedImmune at neutral
MedImmune Inc. was maintained by Merrill Lynch analyst Eric Ende at a neutral rating after third-quarter results on earnings per share of $0.25 were lower than Merrill Lynch's $0.26 estimate but higher than consensus of $0.22. Higher-than-expected seasonal international shipments of Synagis and higher gross margin were offset by higher research and development expenses. Merrill Lynch said additional product revenue sources are necessary for the company to reach its earnings per share goal of $2 in 2009. Shares of the Gaithersburg, Md., biotechnology company were down $0.49, or 1.45%, at $33.26 on volume of 2,951,439 shares versus the three-month running average of 2,730,320 shares.
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