Merrill starts coverage of Replidyne at buy

Merrill Lynch analyst David Munno began coverage of Replidyne, Inc. with a buy rating and a $14 price objective. According to the analyst, the company has a late-stage antibiotic with blockbuster potential plus a solid partnership with Forest Labs. Near-term catalysts include potential Food and Drug Administration approval of its lead drug Orapem in the fourth quarter and product launch in mid-2007. Shares of the Louisville, Colo.-based biopharmaceutical company were up 3 cents, or 0.30%, at $10.10, on volume of 23,582 shares versus the three-month running average of 818,805 shares. (Nasdaq: RDYN)

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