JMP reiterates NPS at market outperform

NPS Pharmaceuticals, Inc. was reiterated at market outperform with a $15 price target by JMP Securities analyst Charles C. Duncan as the company's Preotract gets EU approval, lowering its risk of U.S. approval. Based on its expectations of a Preotact launch in the second half of this year by EU partner, Nycomed, JMP increased its 2006 revenue estimates to $29.8 million, from $28.8 million, and decreased net loss forecasts to $4.19 per share, from $4.21 per share. Shares of the Salt Lake City, Utah, pharmaceutical company were up $0.09, or 1.06%, at $8.62 on volume of 541,993 shares versus the three-month running average of 1,018,190 shares. (Nasdaq: NPSP)

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