Wedbush Reiterates Neutral On NPS Pharmaceuticals Despite FDA Approval For Natpara

Wedbush analyst David Nierengarten was out with some neutral comments on NPS Pharmaceuticals (NASDAQ:NPSP), following the news that the company’s Natpara has been approved by the FDA to treat hypocalcemia in patients with hypoparathyroidism. The analyst rates the stock a Neutral and has a $46 price target, based on Shire acquisition value.

Nierengarten observed, “As expected, Natpara was approved with no limit on duration of use, and with a REMS program in addition to blackbox warning of the hypothetical risk of osteosarcoma, which stems from preclinical data in rats. Unlike Forteo, (a marketed truncated version of parathyroid hormone indicated for the treatment of osteoporosis) which is recommended for use for up to two years, Natpara treatment duration will not be limited.”

The analyst added, “Sales are expected to begin in Q2:15, although management has yet to comment on pricing, likely due to the impending takeover by Shire”.

NPS Pharmaceuticals, Inc., a biopharmaceutical company, engages in the development of therapeutic products in the United States. 

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