Merrill puts OSI at buy

OSI Pharmaceuticals, Inc. was maintained at a buy rating by Merrill Lynch analyst Eric Ende after a positive early look at Tarceva/Avastin data. The analyst sees OSI as the best turnaround story of 2006 based in part on the likelihood that Macugen is divested in the next 6 to 12 months. Shares of the Melville, N.Y.-based pharmaceutical company were up $0.56, or 1.86%, at $30.64 on volume of 2,712,718 shares versus the three-month running average of 1,214,920 shares. (Nasdaq: OSIP)

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