Regeneron kept at neutral by Merrill

Regeneron Pharmaceuticals Inc. was kept at a neutral rating by Merrill Lynch analyst Hari Sambasivam. The company reported total revenues of $17.4 million and a net loss of $29.7 million, or $0.53 per share. Revenues were broadly in line with Merrill's estimate of $18.3 million. Lower R&D spending ($37.9 million versus the analyst's $50 million estimate) led to a smaller net loss than Merrill's estimate of $40.6 million, or $0.73 per share. Regeneron ended the quarter with $317 million in cash. Shares of the Tarrytown, N.Y., pharmaceutical company were up $1.50, or 9.38%, at $17.50 on volume of 810,825 shares versus the three-month running average of 495,025 shares. (Nasdaq: REGN)

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