Wedbush Sets Expectations On NPS Pharmaceuticals Heading Into Q314 Earnings Release


In a research report issued Thursday, Wedbush analyst David Nierengarten maintained an Outperform rating on NPS Pharmaceuticals (NASDAQ:NPSP) with a price target of $42, as the company will report Q3 earnings in the first half of November.

Nierengarten said, “NPSP is expected to report Q3 earnings in the first half of November, and we expect earnings and sales in line with the Street. We are forecasting EPS of $0.01 and $58.2M in revenues, including $28.1M in Gattex sales, compared to consensus of $0.01 EPS and $59.5M in revenues.” The analyst added, “Although we expect the earnings call to be dominated by talk of Natpara, specifically surrounding FDA feedback and the required REMS submission, we believe recent investor focus on Natpara has overshadowed the strong growth in the Gattex franchise.”

The analyst concluded, “NPSP remains one of the best values among publically-traded rare disease companies.¬†We recommend investors take advantage of recent weakness and accumulate NPSP shares prior to the extended (and in our view, de-risked) approval for Natpara on Jan 24, 2015.”

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 14.2% and a 54.5% success rate. Nierengarten has a 40.8% average return when recommending NPSP, and is ranked #330 out of 3354 analysts.

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