Jefferies Maintains Bullish Stance on NPS Pharmaceuticals (NPSP) after Survey
April 22, 2013 6:51 AM EDT
Jefferies reiterated its Buy rating and $16 price target on NPS Pharmaceuticals Inc. (NASDAQ: NPSP) following an encouraging physician survey on Gattex.
Analyst Eun K. Yang, Ph.D. notes, "Launched on 2/11/13 in U.S., Gattex is for adults with SBS on parenteral support. While still early in the launch cycle, our 50-gastroenterologist survey shows encouraging initial uptake and prescription trend by YE13. Survey results indicate NPSP's forecast of 200-250 pts on Gattex by YE seem very reasonable, if not conservative."
The firm adjusted FY 2014 EPS estimates from ($0.24) to ($0.28).
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Shares of NPS Pharmaceuticals Inc. closed at $12.66 yesterday, with a 52 week range of $6.48-$12.95.