NPS Pharma price target cut by Merrill

NPS Pharmaceuticals Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating, but the price target on the stock was reduced to $15 per share from $26 due to lower sales estimates for its osteoporosis drug Preos in addition to increased financial risk. Merrill said because of labeling limitations Preos may only reach 25% of the potential market. NPS shares Wednesday dropped $0.50, or 4.46%, to close at $10.70 on volume of 978,402 shares versus the three-month running average of 409,482 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.