NPS Pharmaceuticals Coverage Initiated at JPMorgan Chase & Co. (NPSP)
Stock analysts at JPMorgan Chase & Co. started coverage on shares of NPS Pharmaceuticals (NASDAQ:NPSP) in a report issued on Friday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $40.00 price target on the stock. JPMorgan Chase & Co.’s price target points to a potential upside of 37.88% from the company’s current price.
The analysts wrote, “We are initiating coverage of NPS Pharmaceuticals (NPSP) with an Overweight rating and a Dec 2014 price target of $40. NPS is a rare disease–focused biotech company that is evolving into a global commercial-stage entity with two wholly owned assets, Gattex for short-bowel syndrome (SBS) and Natpara for hypoparathyroidism. For Gattex, we are encouraged by the launch in the US thus far and the leverage that should come from owning global commercial rights when the EU launch (brand name Revestive) initiates in 1Q14. For Natpara, NPS is targeting a BLA submission by YE13, which sets up a commercial launch in late 2014 / early 2015. In our view, the opportunity for Natpara is very underappreciated by the Street; our research indicates a peak WW opportunity of $1.2B based on the significant unmet medical need. Despite the strong YTD performance (+219% versus the NBI index at +54%), we still view NPSP shares as attractive given upside from the US Gattex launch and EU approval as well as regulatory progression of Natpara in 2014.”
A number of other firms have also recently commented on NPSP. Analysts at Leerink Swann set a $35.00 price target on shares of NPS Pharmaceuticals (NASDAQ:NPSP) in a research note to investors on Thursday, September 5th. They now have an “outperform” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of NPS Pharmaceuticals (NASDAQ:NPSP) from $19.00 to $28.00 in a research note to investors on Wednesday, August 21st. They now have an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of NPS Pharmaceuticals (NASDAQ:NPSP) from $14.00 to $19.00 in a research note to investors on Tuesday, August 13th. They now have a “market perform” rating on the stock.
Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $26.03.
NPS Pharmaceuticals (NASDAQ:NPSP) traded up 3.93% during mid-day trading on Friday, hitting $30.15. 1,196,436 shares of the company’s stock traded hands. NPS Pharmaceuticals has a one year low of $7.35 and a one year high of $29.53. The stock has a 50-day moving average of $24.10 and a 200-day moving average of $16.36. The company’s market cap is $3.058 billion.
NPS Pharmaceuticals (NASDAQ:NPSP) last announced its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.06. The company had revenue of $36.50 million for the quarter, compared to the consensus estimate of $31.62 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was down 31.8% on a year-over-year basis. On average, analysts predict that NPS Pharmaceuticals will post $-0.21 earnings per share for the current fiscal year.
In other NPS Pharmaceuticals news, CFO Luke Beshar sold 50,000 shares of NPS Pharmaceuticals stock on the open market in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $27.89, for a total transaction of $1,394,500.00. Following the completion of the transaction, the chief financial officer now directly owns 59,180 shares in the company. The sale was disclosed in a document filed with the SEC, which is available at this link.
NPS Pharmaceuticals, Inc (NASDAQ:NPSP) is a clinical-stage biopharmaceutical company.
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