Progenics kept at neutral by Merrill

Progenics Pharmaceuticals Inc. was maintained at neutral by Merrill Lynch analyst David Munno on news that the phase 2 chronic pain trial has started for oral Methylnaltrexone (MNTX). According to the analyst, the chronic pain indication is the largest potential indication, with a total market opportunity of between $1.25 billion and $1.5 million. Shares of the Tarrytown, N.Y.-based pharmaceutical company were up 51 cents, or 2.41%, at $21.70, on volume of 86,899 shares versus the three-month running average of 190,505 shares. (Nasdaq: PGNX)

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