Progenics maintained by Merrill at buy

Progenics Pharmaceuticals Inc. was maintained by Merrill Lynch analyst David Munno at a buy rating with a price target on the stock of $28 per share ahead of expected new positive clinical data from the phase I trial of PRO140 at the International AIDS Society conference July 24-26. In addition, Merrill expects the FDA to issue a decision July 25 that would increase the probability of methylnaltrexone having a first-to-market advantage over Entereg. Progenics shares Friday climbed $0.25, or 1.09%, to $23.24 on volume of 267,742 shares versus the three-month running average of 177,134 shares.

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