UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on NPS Pharmaceuticals

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on NPS Pharmaceuticals

, and raised its price target from $13.00 to $15.00. Jefferies noted, “As expected, FDA's AdComm panel voted for recommending approval of Gattex unanimously. Panel also voted favorably on NPSP's proposed REMS (10-1), supporting likely timely approval (PDUFA date, 12/30/12). With potential approval of a 2nd product Natpara in ~mid-2014, we see significant upside in NPSP shares from current levels. Reiterate Buy.” NPS Pharmaceuticals closed on Tuesday at $10.19.