Neurocrine at sell by Merrill

Merrill Lynch analyst Eric Ende maintained Neurocrine Bioscience Inc. at a sell rating on the later-than-expected IndiplonIR New Drug Application resubmission, now expected to occur by the end of the second-quarter 2007. Neurocrine will need to perform a new food interaction study and provide additional analyses of previously submitted data. The analyst believes there is minimal market opportunity or profitability for the drug. Shares of the San Diego-based pharmaceutical company were down 38 cents, or 3.48%, at $10.55 on volume of 1,773,730 shares versus the three-month running average of 2,114,330 shares. (Nasdaq: NBIX)

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