JMP reiterates NPS at market outperform

NPS Pharmaceuticals Inc. was reiterated by JMP Securities analyst Charles C. Duncan at a market outperform rating with a $22 price target. The company reported third-quarter sales that beat expectations on both top and bottom lines. Revenues of $4.7 million were higher than JMP's estimate of $2.4 million and consensus of $3.3 million. The company is preparing for the launch of Preos for vertebral fractures and the appointment of a new chief executive that shows the company is serious about building commercial presence. Shares of the Salt Lake City drug discovery company were up $0.40, or 3.98%, at $10.44 on volume of 969,637 shares versus the three-month running average of 530,436 shares.

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