Jefferies reiterates NPS at buy

NPS Pharmaceuticals, Inc. was reiterated at a buy and a $10 price target by Jefferies & Co., Inc. analyst Adam Walsh on news of management's corporate restructuring to reduce cash burn and updated Preos strategy. Jefferies believes Preos will be partnered and bring cash to NPS. The company can now focus on accelerating Teduglutide development and advancing earlier-stage compounds. Shares of the Salt Lake City-based biopharmaceutical company were up 15 cents, or 3.30%, at $4.69 on volume of 1,099,721 shares versus the three-month running average of 1,134,510 shares. (Nasdaq: NPSP)

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