NPS at buy by Jefferies

NPS Pharmaceuticals, Inc. was rated at buy by Jefferies & Co., Inc. analyst Adam Walsh based on the analyst's new timeline expectations for a Preos launch (first-quarter 2008). Jefferies lowered its 18-month price target to $10 from $16. NPS reported first-quarter 2006 non-GAAP net loss of $0.83 per share, versus Jefferies' estimate of net loss of $0.99 and Street consensus of net loss of $1.03. Shares of the Salt Lake City biotechnology company were down $3.22, or 39.22%, at $4.99 on volume of 10,698,635 shares versus the three-month running average of 1,190,180 shares. (Nasdaq: NPSP)

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