JMP reiterates MGI at market perform

MGI Pharma, Inc. was reiterated at market perform by JMP Securities analyst Charles C. Duncan as the company's Aquavan Injection enters its pivotal program, in line with JMP's first-quarter expectation. The analyst anticipates a project launch in mid-2008, with high market potential of $500 million. JMP would like to see a Dacogen launch with early uptake that beats its current expectations along with improved Aloxi growth trends. Shares of the Bloomington, Minn., biopharmaceutical company were up 84 cents, or 5.17%, at $17.08 on volume of 1,845,711 shares versus the three-month running average of 1,281,030 shares. (Nasdaq: MOGN)

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