Merrill Lynch raises New River price target to $85

New River Pharmaceuticals Inc. was reiterated by Merrill Lynch analyst David W. Munno at a buy rating, but the price target was raised to $85 from $56. Merrill Lynch said it believes NRP104 will be the next market leader in the attention deficit hyperactivity disorder market. A NRP104 launch is expected in the fourth quarter of 2006. It has the efficacy of a stimulant, the reduced abuse-risk of a non-stimulant and has a better safety profile than both, Merrill Lynch said. Shares of the Radford, Va.-based specialty pharmaceutical company were up $2.59, or 5.23%, at $52.11 on volume of 492,557 shares versus the three-month running average of 86,363.6 shares.

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