Merrill maintains Adams Respiratory at neutral

Adams Respiratory Therapeutics Inc. was maintained at neutral by Merrill Lynch analyst Gregory B. Gilbert. The company reported earnings per share of $0.36, significantly more than Merrill's $0.15 estimate, with higher-than-expected sales and lower expenses contributing to the upside. However, Gilbert said investors are already paying for some of the potential upside that Adams' Mucinex DM and D could generate if the FDA enforces exclusivity. Shares of the Chester, N.J.-based diagnostic substances company were down $0.99, or 2.34%, at $41.32 on volume of 297,035 shares versus the three-month running average of 203,064 shares.

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