Merrill maintains NeoPharm at neutral

NeoPharm, Inc. was kept at a neutral rating by Merrill Lynch analyst David Munno after the independent data monitoring committee recommended continuing the Precise trial until the final analysis of 215 deaths. Final analysis is expected at the end of 2006 or early 2007. With no other significant events or risks on the NeoPharm horizon, Merrill is lowering its price target to $8 from $12. Shares of the Waukegan, Ill.-based biopharmaceutical company were down $1.03, or 15.85%, at 5.47 on volume of 1,516,333 shares versus the three-month running average of 310,505 shares. (Nasdaq: NEOL)

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