JMP reiterates Millennium at market perform

Millennium Pharmaceuticals was reiterated by JMP Securities analyst Charles C. Duncan a market perform rating after third-quarter results beat expectations with revenues totaling $201.7 million versus consensus of $158 million and a net loss of $6.5 million, or $0.02 per share, compared to consensus loss of $0.07 per share. JMP said it predicts muted sales of Velcade due to competition from Celgene's Revlimid in multiple myeloma. Shares of the Cambridge, Mass.-based pharmaceutical company were up $0.16, or 1.79%, at $9.12 on volume of 3,213,574 shares versus the three-month running average of 4,362,890 shares.

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