Merrill maintains NeoPharm buy rating

NeoPharm Inc. was maintained at buy with an $18 price objective by Merrill Lynch analyst David W. Munno after the company reported a loss per share of $0.45, $0.03 more than Merrill's estimate. However, Merrill said NeoPharm's CBTox will likely become the next standard of care for malignant gliomas, with up to $640 million in peak sales, and initial impressions of new chief executive officer and Guillermo Herrera are positive. Shares of the Lake Forest, Ill.-based biotechnology were down $0.44, or 4.84%, at $8.65 on volume of 472,661 shares versus the three-month running average of 301,506 shares.

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