Company

Bank

Analyst

Coverage

Opinion

Wk chg

2/21 cls

NPS Pharmaceuticals Inc. (NASDAQ:NPSP)

Jefferies

Eun Yang

Downgrade

Hold (from buy)

4%

$38.57

Yang downgraded on valuation and maintained her $38 target. She said NPS shares have outperformed on a strong U.S. launch of short bowel syndrome drug Gattex teduglutide and on the anticipation of a large opportunity for Natpara. Yang believes both products are largely factored into NPS's current share price. Natpara, a recombinant human parathyroid hormone 1-84 (PTH), is under review in the U.S. to treat hypoparathyroidism, with an Oct. 24 PDUFA date. Yang estimates peak annual worldwide sales of about $530M for Gattex in 2019 and $840M for Natpara in 2024.