OSI maintained by Merrill Lynch at buy

OSI Pharmaceuticals, Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating after the company outlined its strategy for integration of the newly acquired Eyet. Merrill Lynch said if Macugen sales decline faster than expected, if a label expansion for diabetic macular edema is delayed or if sales fall below $200 million, the company may be challenged in making the Eyet acquisition financially accretive. But, the completion of the acquisition could remove a near-term overhang and help the stock. Shares of the Melville, N.Y., biotechnology company were up 79 cents, or 3.33%, at $24.51 on volume of 1,090,731 shares versus the three-month running average of 2,976,730 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.