Thomas Weisel maintains Millenium at peer perform

Millenium Pharmaceuticals Inc. was maintained at a peer perform rating by Thomas Weisel Partners analyst Maneesh Jain, who revised estimates after third-quarter results showed a non-GAAP net loss per share of $0.02, much lower than estimates of $0.12 and consensus of $0.07. The company's restructuring is viewed as a positive development toward increasing financial transparency, Jain said, adding that consolidating resources should allow for added cost savings and 2006 non-GAAP profitability. Shares of the Cambridge, Mass.-based pharmaceutical company were up $0.27, or 3.11%, at $8.96 on volume of 5,927,429 shares versus the three-month running average of 4,633,920 shares.

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