Merrill Lynch: New River still a buy

New River Pharmaceuticals Inc. was reiterated by Merrill Lynch analyst David Munno at a buy rating after the company completed two of its three abuse liability studies for NRP104 and that the two studies met primary objectives. The company is making a presentation to investors at a conference the week of Dec. 12, and Merrill Lynch said it could coincide with an announcement of a New Drug Application filing at that time or soon after. Shares of the Radford, Va., specialty pharmaceutical company were down 64 cents, or 1.29%, at $48.98 on volume of 107,997 shares versus the three-month running average of 89,798.4 shares.

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