Neurocrine kept at neutral by Merrill

Neurocrine Bioscience Inc. was maintained at a neutral rating by Merrill Lynch analyst Eric Ende on the company's first-quarter results, which were considered a non-event. Also, the company failed to provide any meaningful updates on the lead program, Indiplon for insomnia. Neurocrine maintained prior 2006 revenue guidance of $165 million to $175 million, not including Indiplon royalties and expenses. Shares of the San Diego biotechnology company were down $3.18, or 5.08%, at $59.44 on volume of 1,314,232 shares versus the three-month running average of 627,217 shares. (Nasdaq: NBIX)

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