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Wedbush Starts NPS Pharmaceuticals Inc. (NPSP) at Outperform; GATTEX Up for Approval, NATPARA Next

February 6, 2012 5:07 PM EST Send to a Friend
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Price: $24.55 --0%

Rating Summary:
    12 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Wedbush initiates coverage on NPS Pharmaceuticals Inc. (NASDAQ: NPSP) with an Outperform. PT $14.00.

Wedbush analyst says, "NPSP is biotechnology company focused on the treatment of rare gastrointestinal and endocrine diseases, with two biologic compounds currently in late-stage development. GATTEX, its lead clinical product, is a glucagon-like peptide (GLP-2) analog, that expands intestinal mucosa, increases intestinal blood flow and increases barrier function with the goal of improving nutrition absorption in the intestine. NATPARA is recombinant parathyroid hormone (PTH) that helps regulate calcium and vitamin D homeostasis in the body, and is already approved in Europe (as Preotact) to treat osteoporosis (marketed by NPSP partner Nycomed/Takeda). Given the clinical benefit profile for each of these late-stage compounds, we expect approval and for GATTEX to generate $252 million in 2015 global revenues (our valuation year), with NATPARA contributing an additional $100 million in revenues. Additionally, NPSP licensed the rights to Sensipar to Amgen (Nasdaq: AMGN)."

For an analyst ratings summary and ratings history on NPS Pharmaceuticals Inc. click here. For more ratings news on NPS Pharmaceuticals Inc. click here.

Shares of NPS Pharmaceuticals Inc. closed at $7.99 yesterday.




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