Altus maintained at buy by Merrill

Altus Pharmaceuticals Inc. was maintained by Merrill Lynch analyst Tom Mcgahren at a buy on news of the company's fourth-quarter 2005 results. Contract revenues and expenses were modestly lower than Merrill expected. The analyst estimates a loss per share of $2.56 in 2006, compared with the analyst's previous estimate of a $2.53 loss per share. While Altus offers a compelling combination of proprietary protein crystallization technology and two promising late-stage product candidates, Merrill is looking for phase 2 and phase 3 results. Shares of the Cambridge, Mass., biopharmaceutical company were down 41 cents, or 1.84%, at $21.93 on volume of 363,731 shares versus the three-month running average of 228,004 shares. (Nasdaq: ALTU)

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