JMP reiterates MGI at market perform

MGI Pharma, Inc. was reiterated at its market outperform rating by JMP Securities analyst Charles C. Duncan. As expected, Dacogen received Food and Drug Administration approval, but Merrill is cautious in assuming that the full dosing schedule will actually be followed. The analyst projects peak sales of Dacogen in 2011 or beyond of $180 million. Shares of the Bloomington, Minn., biopharmaceutical company were down 9 cents, or 0.47%, at $19.19 on volume of 1,496,800 shares versus the three-month running average of 1,037,770 shares. (Nasdaq: MOGN)

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