Jefferies Raises NPS Pharmaceuticals (NPSP) Target to $15 after FDA Panel Backing

Jefferies lifted its price target on Buy-rated NPS Pharmaceuticals Inc. (NASDAQ: NPSP) from $13 to $15 following FDA panel backing of Gattex.

"As expected, FDA's AdComm panel voted for recommending approval of Gattex unanimously. Panel also voted favorably on NPSP's proposed REMS (10-1), supporting likely timely approval (PDUFA date, 12/30/12). With potential approval of a 2nd product Natpara in ~mid-2014, we see significant upside in NPSP shares from current levels."

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 $10.19 yesterday.

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