Morgan Joseph Reiterates a 'Buy' on Nektar Therapeutics (NKTR); Partner Momentum Building
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Morgan Joseph reiterates a 'Buy' rating on Nektar Therapeutics (Nasdaq: NKTR), raises price target from $7 to $9.
Morgan analyst says, "We are raising our price target to $9.00 from $7.00 as building momentum of partnered products over the past two months has raised our confidence about Nektar Therapeutic's PEG technology platform. UCB's Cimzia was recently approved in the US for rheumatoid arthritis and is currently being launched. Bayer (NYSE: BAY) has better defined its clinical strategy for inhaled antibiotic Amikacin. Additionally, we continue to be hopeful of a NKTR-118 partnership in 2H09. NKTR continues to be stigmatized, in our view, by the failure of its inhaled insulin program a few years ago, but we believe CEO Howard Robin is leading a strong comeback by leveraging the company's PEG technology and deep pipeline."
To see more analyst ratings on NKTR Click Here.
Nektar Therapeutics is a biopharmaceutical company developing a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to improve the benefits of drugs for patients.
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