UPDATE: Jefferies & Company Downgrades Nektar Therapeutics to Hold, Lowers PT
In a report published Monday, Jefferies & Company downgraded its rating on Nektar Therapeutics (NASDAQ: NKTR) from Buy to Hold, and lowered its price target from $10.00 to $8.00.
Jefferies noted, “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.”
Nektar Therapeutics closed on Friday at $8.15.
Latest Ratings for NKTR
|Mar 2015||JP Morgan||Maintains||Overweight|
|Sep 2014||Bank of America||Maintains||Underperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.