Merrill Lynch maintains Neurocrine Bioscience at neutral

Neurocrine Bioscience Inc. was maintained by Merrill Lynch analyst Eric Ende at a neutral rating after third-quarter earnings per share of $0.68 were higher than Merrill Lynch's estimate of $0.50 and consensus of $0.48. The difference was primarily due to lower-than-expected research and development costs. Merrill Lynch said it believes Indiplon IR will be approved in February 2006 and Indiplon MR in March 2006, then join a competitive market for insomnia drugs. Shares of the San Diego-based biopharmaceutical company were up $1.06, or 2.16%, at $50.04 on volume of 1,035,548 shares versus the three-month running average of 462,355 shares.

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