Jefferies Reiterates Bullish Stance on Nektar (NKTR) Post FDA Approval

Jefferies analyst David Steinberg reiterated a Buy rating and $15 price target on Nektar Therapeutics (NASDAQ: NKTR) after the FDA approved Movantik (naloxegol) for the treatment of opioid-induced constipation (OIC).

Steinberg commented, "Approval was largely expected following a positive FDA AdCom in June reviewing cardiovascular safety of mu-opioid agonists such as Movantik. Importantly, with this approval, Nektar recognizes $105M and is eligible to receive up to $140M in launch milestones (anticipated in 1H15) and significant tiered royalties (est 15-25%) on end-market sales."

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 $13.59 yesterday.

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