MGI Pharma maintained at buy by Merrill

MGI Pharma Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating. The company reported fourth-quarter earnings per share in line with pre-announced guidance but indicated that first-quarter 2006 Aloxi sales could be flattish. Merrill believes the company is undervalued and expects approval of Dacogen this year. Shares of the Bloomington, Minn., biopharmaceutical company were up 80 cents, or 4.68%, at $17.90 on volume of 2,661,644 shares versus the three-month running average of 1,442,480 shares. (Nasdaq: MOGN)

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