NPS Pharma slides, Cramer says sell some red-hot biotechs • 9:26 AM
•It appears a large number of NPS Pharmaceuticals (NPSP) shares were sold Friday morning at $32 each.
•The company itself was not a part of the transaction. According to NPSP, "these were shares that were held by Takeda that they sold to Jefferies in a block trade and Jefferies has re-sold the shares through its sales distribution network."
•Thursday evening, Cramer recommended "ringing the register on pretty much any biotech that's smaller than $10B." Stocks mentioned: NPSP, ISIS, CLDX, ACAD, TSRO
The item originally suggested that NPS Pharmaceuticals may have been party to a secondary offering.