Hapoalim Securities Raises Target On Nektar Therapeutics (NKTR)

Hapoalim Securities raised its price target on Nektar Therapeutics

to $19 from $16. It is reiterating its Buy rating on shares. In a note to clients, Hapoalim writes, "After the impressive Phase II ovarian and breast cancer data, Nektar stated that it expects to partner NKTR-102 by then end of 2010. Beyond NKTR-102, NKTR-118, for opioid-induced constipation (

), and BAY41-6551, inhaled amikacin for ventilator pneumonia, should each enter Phase III and NKTR-105 (for solid tumors) should enter Phase II, all in the next 12 months. We also expect Nektar to advance several new products into Phase I in coming years, which could drive longer-term licensing deals. We reiterate our BUY rating and are increasing our Price Target to $19." Shares of NKTR are down 29 cents this morning to $14.85, a loss of 2%.