ThinkEquity has listed out eleven stocks that could witness a near-term upside in their share prices based on upcoming catalysts.

The brokerage also added Aruba Networks (Nasdaq: ARUN) and NPS Pharmaceuticals (Nasdaq: NPSP) to its Think Fast List.

Aruba Networks: The brokerage expects the company's shares to gather strength as it closes its fiscal second quarter in January and reports next month. Wall Street expects the California-based enterprise mobility solutions provider to earn 13 cents a share on revenue of $87.81 million, according to analysts polled by Thomson Reuters.

NPS Pharmaceuticals: ThinkEquity expects drug maker to release pivotal Phase 3 Gattex STEPS registration trial data by the end of the first quarter of 2011. Under the trial, the company is evaluating teduglutide as a possible treatment for short term bowel syndrome.

Atmel (Nasdaq: ATML): The brokerage believes the company has the opportunity for continued share gains in the microcontroller (MCU) market, where it has consistently gained share over the last few years.

First Solar (Nasdaq: FSLR): The brokerage said it is growing increasingly bullish on 2011 solar demand, given recent data points on first half 2011 pricing from competitors. Also, its checks indicate that the solar industry is growing in excess of consensus expectations.

MedAssets (Nasdaq: MDAS): ThinkEquity believes the company is well positioned in the revenue cycle management (RCM) business to help hospitals navigate a challenging and increasingly complex reimbursement landscape.

OPNET Technologies (Nasdaq: OPNT):  The brokerage believes the company's results over the next two quarters, in both enterprise and government verticals, will demonstrate the company's rising profile as a leading vendor of end-to-end application performance monitoring (APM) technology.

PetSmart (Nasdaq: PETM): The brokerage said the company's recent comp strength and margin expansion leave it increasingly comfortable with the potential for 15-20 percent earnings growth in 2011 even in a low- to mid-single digit comp environment.

Power-One (Nasdaq: PWER): ThinkEquity said the company's inverter business as a unit play on solar growth and system yield which is currently taking share at a rapid rate.

Seattle Genetics (Nasdaq: SGEN): The brokerage believes the potential Front-Line (FL) combinability and Retreatment (RT) opportunities plus cash and technology platform value support a higher valuation for the company.

STEC, Inc. (Nasdaq: STEC):  ThinkEquity believes Stec continues to enjoy a monopoly in the high-end Enterprise Storage solid-state drive (SSD) market at all key original equipment manufacturers and this monopoly is likely to persist at least through first half of 2011.

Williams-Sonoma (NYSE: WSM): The brokerage expects that recent holiday sales strength and evidence of continued margin improvement will prove a catalyst for the shares of Williams-Sonoma.