OSI maintained by Merrill at buy

OSI Pharmaceuticals, Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating and a $34 price target after Genentech reported fourth-quarter sales of Tarceva at $84 million, in line with Merrill's estimates and ahead of $82 million consensus. Merrill said it believes Tarceva's growth has reaccelerated due to approval in pancreatic cancer Nov. 6. The company may be an interesting turnaround story in 2006 after a tough 2005, Merrill said. The stock could trade higher with continued growth of Tarceva sales. Shares of the Melville, N.Y., biotechnology company were down $0.9499, or 3.28%, at $28.0101 on volume of 2,497,180 shares versus the three-month running average of 1,834,070 shares. (Nasdaq: OSIP)

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