Merrill keeps Neurocrine at neutral

Neurocrine Biosciences Inc. was reiterated by Merrill Lynch analyst Eric Ende at a neutral rating. Merrill believes the stock at current levels is due to expected approval of the company's Indiplon capsule and tablet by the FDA in May. Based mainly on guidance for lower-than-expected operating expenses, the analyst increased the earnings-per-share estimate for 2006 to $1.13, or $0.66 including options expenses of $18 million, from $0.39. Shares of the San Diego pharmaceutical company were up 96 cents, or 1.59%, at $61.29 on volume of 787,221 shares versus the three-month running average of 633,251 shares. (NYSE: NBIX)

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