JMP reiterates SGX at market outperform

SGX Pharmaceuticals, Inc. was reiterated at market outperform with a $12 price target by JMP Securities analyst Charles C. Duncan on the non-event of the company's fourth-quarter and full-year 2005 financial results, which modestly missed JMP's estimates on top but beat expectations on the bottom. The clinical and regulatory development of Troxatyl will continue to be the main focus for investors. Shares of the San Diego biotechnology company were down $1.42, or 14.92%, at $8.10 on volume of 98,868 shares versus the three-month running average of 44,597 shares. (Nasdaq: SGXP)

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