Needham & Company Reiterates a 'Buy' on NPS Pharmaceuticals (NPSP); Gattex PDUFA Date Announced, but FDA AdCom Timing Still Unknown

Needham & Company reiterates a 'Buy' on NPS Pharmaceuticals (NASDAQ: NPSP) price target of $15.00.

Analyst, Alan Carr, said, "NPS management provided an update in a quarterly conference call yesterday after market close. The Gattex PDUFA date is 9/30/12, in-line with company guidance, although we had been leaning towards a shorter 6-month review. If approved, management believes the drug could be launched in Short Bowel Syndrome between October and December this year. An FDA AdCom is expected, but the company has not been informed of a date. It will not be reviewed at the scheduled March 2012 Gastrointestinal AdCom meeting."

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

Shares of NPS Pharmaceuticals closed at $7.39 yesterday.

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