Wedbush Assigns Outperform On NPS Ahead Of FDA Documents Release
In a report published yesterday, Wedbush analyst David Nierengarten assigned an Outperform rating on NPS Pharmaceuticals Inc. (NASDAQ:NPSP) ahead of the release of the FDA Advisory Committee Panel briefing documents. No price target was mentioned.
Nierengarten noted: “We expect to see volatility in NPS shares as investors digest the FDA Advisory Committee Panel briefing documents that are to be released before market open on Wednesday September 10.” And concluded: “We do expect the committee to recommend approval, and we expect approval on the PDUFA date of October 24, with the pricing announcement shortly thereafter.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst David Nierengarten has a total average return of 9.2% and a 53.8% success rate. Nierengarten has a 46.8% average return when recommending NPSP, and is ranked #724 out of 3291 analysts.