NPS Pharma maintained by Merrill at buy

NPS Pharmaceuticals Inc. was maintained by Merrill Lynch at a buy rating with a price target of $29 following the U.S. Food and Drug Administration's approval of its New Drug Application for Preos, a treatment of osteoporosis in postmenopausal women. As a recent underperformer, Merrill believes the recent move in biotech stocks could drive further upside for the stock. NPS Pharma shares on Monday lost 14 cents, or 1.1% to $12.55 on volume of 636,389 shares versus the three-month running average of 405,274.

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