UPDATE: Oppenheimer Reiterates Outperform Rating, Raises PT on NPS Pharmaceuticals Following Gattex Survey

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In a report published Wednesday, Oppenheimer analyst Boris Peaker reiterated an Outperform rating on

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NPS Pharmaceuticals

(NASDAQ: NPSP), and raised the price target from $19.00 to $28.00.In the report, Oppenheimer noted, “We conducted a survey of 25 community gastroenterologists to assess their current view on Gattex and the future growth potential for the drug. Our results show that while most docs are aware of Gattex, most of their patients are not. Over the next three years our surveyed physicians plan to increase their Gattex prescriptions significantly, part of which is likely to be driven by increased patient awareness, positive feedback from initial patients, and improved reimbursements. Based on the results of this survey we are raising our price target for NPS from $19/share to $28/share and reiterate our Outperform rating.”NPS Pharmaceuticals closed on Tuesday at $23.25.