UPDATE: Oppenheimer Initiates NPS Pharmaceuticals with Outperform on Leading Assets

In a report published Tuesday, Oppenheimer analyst Boris Peaker initiated coverage on NPS Pharmaceuticals NPSP with an Outperform rating and $18.00 price target. In the report, Peaker noted, “NPS is a biopharmaceutical company with two leading assets, Gattex and Natpara. Both drugs are first-in-class compounds, and as such, there are no direct competitors. Furthermore, we believe that both drugs offer significant benefit to patients, which in our view, will help commercial adoption. Although some investors may be concerned about owning a ‘launch name,' we believe that both Gattex and Natpara will generate substantial commercial traction given their therapeutic benefits, and as such, we see significant upside from current valuation.” NPS Pharmaceuticals closed on Tuesday at $13.24.