Millennium maintained at market perform by JMP

Millennium Pharmaceuticals, Inc. was kept at a market perform rating by JMP Securities analyst Charles C. Duncan. The company's first-quarter earnings were slightly ahead of JMP's estimate and Street expectations, with Velcade sales a disappointment. As the company advances its earlier-stage compounds and pursues Velcade development in additional indications, JMP is projecting continued uncertainty for the value of Velcade, the company's key asset. Shares of the Cambridge, Mass., pharmaceutical company were down 41 cents, or 4.32%, at $9.08 on volume of 7,907,503 shares versus the three-month running average of 3,379,430 shares. (Nasdaq: MLNM)

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