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Merrill has Progenics at neutral
Merrill Lynch analyst David Munno rated Progenics Pharmaceuticals Inc. at neutral. The stock has reacted mostly positively to the approvable letter for Entereg in post-operative ileus. However, Munno believes the market is over-reacting to the Adolor news and there is no evidence of elevated cardiovascular risk for Entereg or other mu-opioid receptor antagonists. Shares of the Tarrytown, N.Y.-based pharmaceutical company were up 44 cents, or 1.71%, at $26.19. (Nasdaq: PGNX)
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