New River rated at buy by Merrill

New River Pharmaceuticals Inc. was given a buy rating by Merrill Lynch analyst David Munno as the Food and Drug Administration's approvable letter for NRP104 was consistent with Merrill's best case scenario that included no new studies required. The drug is on track for a launch in the first half of 2007. Munno believes the Street is significantly underestimating NRP104's potential. Shares of the Radford, Va.-based pharmaceutical company were up $16.11, or 61.47%, at $42.32. (Nasdaq: NRPH)

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