MedImmune at neutral by Merrill

MedImmune Inc. was rated at neutral by Merrill Lynch analyst Eric Ende after the company's first-quarter revenues fell short of consensus estimates by $45 million due to declining U.S. Synagis sales ($464 million worldwide). Merrill is estimating a fair value of the stock in the range of $28 to $30. MedImmune reduced revenue guidance to $1.3 billion from $1.4 billion and earnings-per-share guidance to $0.30 to $0.35 from $0.40 to $0.45 for 2006. Shares of the Gaithersburg, Md., biotechnology company were down $4.17, or 11.80%, at $31.17 on volume of 15,113,298 shares versus the three-month running average of 1,876,400 shares. (Nasdaq: MEDI)

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