Merrill Lynch maintains NPS at buy

NPS Pharmaceuticals was maintained by Merrill Lynch analyst Eric Ende at a buy rating on news that the company struck a deal with Allergan to promote Restasis to rheumatologists for chronic dry eye disease. The rationale was unclear, Merrill Lynch said, given the minimal opportunity for this promotion of Restasis. The company also plans to promote Preos to rheumatologists for osteoporosis once the drug is approved, which is expected in March 2006. Shares of the Salt Lake City pharmaceutical company were up $0.50, or 5.09%, at $10.33 on volume of 331,264 shares versus the three-month running average of 551,848 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.