JMP keeps NPS at market outperform

NPS Pharmaceuticals, Inc. was reiterated at market outperform and given a $22 price target by JMP Securities analyst Charles C. Duncan. NPS announced receipt of a positive recommendation from the Committee for Medicinal Products for Human Use to authorize market approval for Preotact (Preos) in Europe, which would be marketed by the company's E.U. partner, Nycomed. JMP believes this lowers, but does not eliminate, the risk of Preos obtaining full approval by the Food and Drug Administration. Shares of the Salt Lake City pharmaceutical company were up 66 cents, or 4.85%, at $14.27 on volume of 1,299,964 shares versus the three-month running average of 563,666 shares. (Nasdaq: NPSP)

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