NEW YORK, January 30 (FinanceEnquiry.com) - Analyst Steven Silver of S&P Capital IQ has upgraded the rating on the shares of NPS Pharmaceutical Inc. (NASDAQ: NPSP) from BUY to Strong Buy. The 12-month target price is set to $13.

In a research note published today, the analyst mentions that the upgradation mirrors his opinion that Gattex of NPS is expected to secure FDA Priority Review for rare disease short bowel syndrome (SBS) in February. The approval for the same is expected to be secured by mid 2012.

The analyst shows his confidence in Gattex's prospects, regardless of recent safety concerns that are viewed as overdone, due to limited SBS treatment options and regulatory focus on rare disease drugs. Natpara's FDA approval for hypoparathyroidism and return of Sensipar royalties to NPSP after use to retire debt, are the expected catalysts for 2013, S&P Capital IQ adds.