Wedbush Morgan Maintains an 'Outperform' on Nektar Therapeutics (NKTR); Raises Price Target
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Price: $9.24 -5.04%
Rating Summary:
3 Buy, 1 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
3 Buy, 1 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade NKTR Now!
Wedbush Morgan maintains an Outperform rating on Nektar Therapeutics (Nasdaq: NKTR), raises price target from $8 to $11.
Wedbush analyst says, "With the influx of cash, NKTR now expects to end the year with $390-$400MM in cash (vs. the prior $275MM level), removing any concern that the company might have to do a financing. We think further upside from here will be driven by the complete Ph II NKTR-118 data release as well as the NKTR-102 data. While we think the signing the AstraZeneca deal signals that NKTR is not in play as a takeout target, we think the robustness of the partnership demonstrates management’s ability to leverage NKTR’s other programs into sizeable collaborations which is the basis for our increased price target."
To see more analyst ratings on NKTR Click Here.
Nektar Therapeutics, a biopharmaceutical company, develops various drug products and product candidates using its proprietary drug delivery technologies.
Wedbush analyst says, "With the influx of cash, NKTR now expects to end the year with $390-$400MM in cash (vs. the prior $275MM level), removing any concern that the company might have to do a financing. We think further upside from here will be driven by the complete Ph II NKTR-118 data release as well as the NKTR-102 data. While we think the signing the AstraZeneca deal signals that NKTR is not in play as a takeout target, we think the robustness of the partnership demonstrates management’s ability to leverage NKTR’s other programs into sizeable collaborations which is the basis for our increased price target."
To see more analyst ratings on NKTR Click Here.
Nektar Therapeutics, a biopharmaceutical company, develops various drug products and product candidates using its proprietary drug delivery technologies.
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