Merrill keeps OSI at buy rating

OSI Pharmaceuticals, Inc. was reiterated by Merrill Lynch analyst Eric Ende at a buy rating and a $34 price target. Merrill raised fourth-quarter estimates for Tarceva to $84 million from $78 million and 2006 estimates to $386 million from $374 million based on reacceleration of growth from approval for pancreatic cancer. Shares of the Melville, N.Y., biotechnology company were up $2.33, or 9.49%, at $26.87 on volume of 3,719,085 shares versus the three-month running average of 1,978,770 shares.

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