Brean Murray Carret Offers Valuation Break Down on Shares of Nektar Therapeutics (NKTR)

Brean Murray Carret & Co. is reiterating its Buy rating and $20 price target on shares of Nektar Therapeutics (NASDAQ: NKTR) while providing a list of parts on what the valuation level should be.

The firm provided a list of some of the company's assets and offers a value for each starting with NKTR-102 in refractory breast cancer (2nd line or later) which is valued at $400 million, NKTR-102 in refractory ovarian canver (5th line or later) valued at $200 million, NKTR-118 in opioid induced constipation-milestones valued at $610 million, NKTR-118 in opioid induced constipation-royalties valued at $250 million, estimated mid-2011 net cash valued at $265 million, 5 times estimates $60 million royalty run rate valued at $300 million, and NKTR-181 in pain which is valued at $300 million. With the assets listed totaling $2.325 billion and the company having 114 million shares outstanding, the value per share comes out to $20.39.

Brean Murray Carret noted that they did not factor in any products in their pipeline or NKTR-119, NKTR-171, NKTR-061, NKTR-105, CDP791, and all other preclinical candidates.

For more ratings news on Nektar Therapeutics click here and for the rating history of Nektar Therapeutics click here.

Shares of Nektar Therapeutics closed at $6.44 yesterday.

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