Progenics maintained at neutral by Merrill

Merrill Lynch analyst David Munno kept Progenics Pharmaceuticals Inc. at its neutral rating after what the analyst considered a first-quarter earnings per share non-event. Progenics is now recognizing milestone revenues from the Wyeth agreement, causing Merrill to adjust its model. The analyst looks for an update on the subcutaneous methylnaltrexone program in the near future. Shares of the Tarrytown, N.Y., pharmaceutical company were up $0.16 or 0.68%, at $23.80 on volume of 155,316 shares versus the three-month running average of 252,577 shares. (Nasdaq: PGNX)

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