Jefferies puts NPS at buy

NPS Pharmaceuticals, Inc. was given a buy rating by Jefferies & Co., Inc. analyst Adam Walsh. Jefferies believes it's too early to gauge the effectiveness of teduglutide in the Crohn's setting. While the trial demonstrated clean safety and weak efficacy, little data was disclosed. The analyst's focus is on the upcoming Preos PDUFA date of March 10. NPS announced top-line results from a teduglutide phase 2a proof-of-concept study in 100 patients with moderate-to-severe Crohn's disease. Shares of the Salt Lake City pharmaceutical company were up 70 cents, or 4.78%, at $15.34 on volume of 2,399,662 shares versus the three-month running average of 586,366 shares. (Nasdaq: NPSP)

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