Merrill reiterates Martek at sell

Martek Biosciences Corp. was reiterated at sell by Merrill Lynch analyst David Munno. The company could face competitive pressure from Abbott after the Food and Drug Administration approved its DHA and ARA oils for use in infant formula. With the risk of Martek losing its second-largest U.S. customer in infant formula, Merrill lowered its 2007 earnings-per-share estimate to $0.58 from $0.61 and its 2008 estimate to $0.67 from $0.79. Shares of the Columbia, Md., pharmaceutical company were down $1.91, or 8.01%, at $21.94 on volume of 1,856,694 shares versus the three-month running average of 744,874 shares. (Nasdaq: MATK)

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