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.
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