Merrill Lynch maintains buy on OSI

Merrill Lynch analyst Eric Ende said that within 12 months, OSI Pharmaceuticals, Inc.'s management will decide if the company will exist as a sustainable stand-alone business or be put up for sale. The decision likely hinges on Macugen's success, but either way, Merrill Lynch expect OSI to trade higher once a decision is made. In the interim, Macugen is likely to remain an overhang, but Merrill Lynch would use uncertainty to buy the stock as Tarceva and the diabetes franchises remain undervalued assets.

Shares of the company were up 10 cents, or 0.35%, at $28.62 on volume of 925,177 shares. Three-month running averages were at 1,230,070. (Nasdaq: OSIP)

© 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.