UPDATE: Jefferies Starts Nektar Therapeutics (NKTR) at Buy

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Jefferies initiates coverage on Nektar Therapeutics (Nasdaq: NKTR) with a Buy rating and $9.50 price target.

The firm comments, "Nektar has built a pegylation delivery platform that is the engine of its drug development efforts. With the company’s six clinical stage assets, of which half are unpartnered, we expect data flow across these multiple programs will drive shares higher over the next 12-18 months. The most important catalyst, near-term, is Ph III naloxegol data in opioid-induced constipation (OIC) which should be available in the next 6-9 months."

For an analyst ratings summary and ratings history on Nektar Therapeutics click here. For more ratings news on Nektar Therapeutics click here.

Shares of Nektar Therapeutics closed at $6.61 yesterday, with a 52 week range of $4.07-$9.71.

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