Merrill keeps New River at buy

New River Pharmaceuticals Inc. was maintained at its buy rating by Merrill Lynch analyst David Munno. The company reported a profitable first quarter due to a milestone payment from Shire. Merrill estimates 2006 revenue of $238 million, including $180 million for NRP104 approval. The analyst raised his 2006 earnings per share estimate to $4.50 from a loss of $0.71. Shares of the Radford, Va., specialty pharmaceutical company were up $0.05, or 0.15%, at $33.18 on volume of 151,955 shares versus the three-month running average of 209,613 shares. (Nasdaq: NRPH)

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