Jefferies Downgrades Nektar Therapeutics (NKTR) to Hold on Increased Regulatory Risks

Jefferies downgraded Nektar Therapeutics (NASDAQ: NKTR) from Buy to Hold with a price target of $8.00 (from $10.00).

The firm comments, "We are downgrading NKTR to Hold from Buy with a new $8 PT based on increased regulatory risks in OIC. Recent FDA scrutiny on CV risks with chronic µ-opioid antagonist use translates to higher approval hurdles potentially involving add'l large CV outcome studies and potentially delaying naloxegol’s approval/launch. Thus, NKTR is fairly valued on increased risks."

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 $8.15 yesterday.

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