SGX at market outperform by JMP

JMP Securities analyst Charles C. Duncan rated SGX Pharmaceuticals, Inc. at market outperform and a $12 price target as the company's first-quarter results were broadly in line, slightly missing top and bottom line expectations. Total revenues of $4.7 million were below consensus estimates of $4.9 million, and net loss for the quarter was $8.9 million, higher than JMP's estimate of $7.9 million. Shares of the San Diego, Calif., biotechnology company were down $0.09 or 1.46%, at $6.08 on volume of 11,111 shares versus the three-month running average of 35,159 shares. (Nasdaq: SGXP)

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