Protein Design Labs kept by Merrill at buy

Protein Design Laboratories Inc. was maintained by Merrill Lynch analyst Thomas McGahren at a buy rating with price target on the stock of $33 per share following additional positive phase II data for ularitide - a treatment for acute decompensated heart failure - announced at the European Society of Cardiology Congress. Protein Design Labs shares Tuesday were up $2.99, or 11.10%, at $29.92 on volume of 8,847,229 shares versus the three-month running average of 1,555,400 shares.

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