We Think NPSP Could Surprise To The Upside, Says Wedbush
In a research note published today, Wedbush analyst David Nierengarten reiterated an Outperform rating on NPS Pharmaceuticals (NPSP) with a $44 price target, ahead of NPSP’s upcoming second quarter results, which will be reported on Wednesday, Aug 6, after market close.
Nierengarten observed, “We think NPSP could surprise to the upside. We estimate revenues and earnings per share of $55.3M and $0.04 vs consensus of $53.1M and break-even. We believe an expanding sales force should have helped Gattex recover from the weather-related issues that impacted Q1 sales. We expect management will provide additional details surrounding the planned European launch of Revestive (Gattex), including timing and pricing decisions. We do not believe the European market will be a meaningful contributor to total sales this year”.
The analyst added, “We believe the main near-term focus for investors will be Natpara’s FDA panel meeting. The FDA advisory committee is scheduled to meet on Sept. 12 to discuss the BLA for Natpara to treat hypoparathyroidism, with a PDUFA date of Oct. 24. An MAA in Europe for the recombinant human parathyroid hormone is expected to be filed by YE:14”.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst David Nierengarten has a 10.4% average return and a 48.4% success rate. Nierengarten has a 65.1% average return when recommending NPSP, and is ranked #629 out of 3200 analysts.
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