Merrill puts ZymoGenetics at buy

ZymoGenetics, Inc. was rated at a buy by Merrill Lynch analyst Hari Sambasivam on news of the company's uneventful third-quarter results that were broadly in line with estimates. Total revenues were $5.6 million, compared with the analyst's estimate of $9.3 million. The company's loss per share was $0.47 versus Merrill's estimate of $0.56. The company ended the quarter with $289.7 million in cash and no debt. Shares of the Seattle-based pharmaceutical company were down 41 cents, or 2.59%, at $15.42. (Nasdaq: ZGEN)

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