JMP reiterates NPS at market outperform

NPS Pharmaceuticals, Inc. was given a market outperform rating and a $22 price target by JMP Securities analyst Charles C. Duncan. The company's shares started 2006 with a stellar performance gaining 30% in the first two weeks of January. This outperformance was driven by optimism for an upcoming Preos approval and the possibility that NPSP may become a potential acquisition target. However, due to concerns regarding the timing and outcome of an FDA action letter triggered by the PDUFA date, NPSP shares have recently traded off. Shares of the Salt Lake City, Utah, pharmaceutical company were up $0.11, or 0.83%, at $13.32 on volume of 503,067 shares versus the three-month running average of 543,861 shares. (Nasdaq: NPSP)

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