Skip to main content

Market Overview

UPDATE: Barclays Capital Initiates Coverage On NPS Pharmaceuticals Ahead Of Natpara Launch

Share:

In a report published Tuesday, Barclays Capital analyst Geoffrey Meacham initiated coverage on NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) with an Overweight rating and $50.00 price target.

In the report, Barclays Capital noted, “The FDA approval and launch of Natpara (PDUFA date: January 24, 2015) are major milestones as it will be NPS' second orphan drug launch, which further diversifies the revenue base. Notably, Natpara expectations look low with a consensus of ~$35M (Barclays: $32M) with upside potential from pricing and early demand. For Gattex, sales grew >20% q/q on average in 2014; our forecasts assume 68% y/y growth in 2015, which could be conservative. The rollout of Revestive (Gattex in the EU) is likely to be slower but that is widely reflected in Street forecasts, in our view. In the pipeline, proof-of-concept phase 2 data for NPSP795 for autosomal dominant hypocalcemia (ADH) could come in 1H15, which could further expand the portfolio; this asset isn't factored into our model or Street models. Overall, we think that the combination of potentially two commercial rollouts (Gattex/Revestive and Natpara) and pipeline catalysts (NPSP795) should be upside drivers of NPSP shares; accordingly, we are initiating coverage with an Overweight rating and $50 price target.”

NPS Pharmaceuticals closed on Monday at $38.13.

Latest Ratings for NPSP

DateFirmActionFromTo
Jan 2015JP MorganMaintainsNeutral
Jan 2015BarclaysDowngradesOverweightEqual-weight
Jan 2015JefferiesMaintainsHold

View More Analyst Ratings for NPSP
View the Latest Analyst Ratings

 

Related Articles (NPSP)

View Comments and Join the Discussion!

Posted-In: Barclays Capital Geoffrey MeachamAnalyst Color Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
GIKColliers SecuritiesInitiates Coverage On14.0
SANWLake StreetInitiates Coverage On6.0
LILAMorgan StanleyDowngrades15.0
BEJP MorganUpgrades36.0
NEXACredit SuisseUpgrades11.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com