Merrill Lynch Initiates Coverage on NPS Pharmaceuticals (NPSP)
Equities research analysts at Merrill Lynch started coverage on shares of NPS Pharmaceuticals (NASDAQ:NPSP) in a research note issued to investors on Thursday, Analyst Ratings Network.com reports. The firm set a “buy” rating and a $46.00 price target on the stock. Merrill Lynch’s price target points to a potential upside of 32.56% from the company’s current price.
In other NPS Pharmaceuticals news, CFO Luke Beshar unloaded 50,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $30.26, for a total value of $1,513,000.00. Following the sale, the chief financial officer now directly owns 59,180 shares in the company, valued at approximately $1,790,787. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wedbush set a $43.00 price target on shares of NPS Pharmaceuticals (NASDAQ:NPSP) in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Bank of America Corp. initiated coverage on shares of NPS Pharmaceuticals (NASDAQ:NPSP) in a research note to investors on Thursday. They set a “buy” rating and a $46.00 price target on the stock. Finally, analysts at Oppenheimer raised their price target on shares of NPS Pharmaceuticals (NASDAQ:NPSP) from $28.00 to $39.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $33.87.
NPS Pharmaceuticals (NASDAQ:NPSP) traded up 3.92% on Thursday, hitting $34.70. The stock had a trading volume of 2,380,006 shares. NPS Pharmaceuticals has a 1-year low of $7.35 and a 1-year high of $34.00. The stock has a 50-day moving average of $27.60 and a 200-day moving average of $18.05. The company’s market cap is $3.520 billion.
NPS Pharmaceuticals (NASDAQ:NPSP) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was down 31.8% on a year-over-year basis. Analysts expect that NPS Pharmaceuticals will post $-0.20 EPS for the current fiscal year.
NPS Pharmaceuticals, Inc (NASDAQ:NPSP) is a clinical-stage biopharmaceutical company.
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