UPDATE: Jefferies & Company Downgrades Nektar Therapeutics to Hold, Lowers PT

In a report published Monday, Jefferies & Company downgraded its rating on Nektar Therapeutics 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.