William Blair Reiterates Outperform Nektar Therapeutics Following NKTR-181 Phase 2 Trial Miss

In a report published Friday, William Blair & Company analyst John Sonnier reiterated an Outperform rating on

. In the report, William Blair & Company noted, “Although NKTR-181 demonstrated analgesic properties in the Phase II trial, we acknowledge the stock is likely to be weak on Friday because of the near-term uncertainty with the compound. Nektar shares are up 87% in 2013 and closed on Thursday at $13.85. The company has made significant progress with both its proprietary and partnered programs during the year, and we believe it remains a compelling value given the breadth of development with its technology platform, which includes five ongoing Phase III development programs. We believe the shares are likely to be weak today as a result of yesterday's disappointing news; however, NKTR-181 remains a viable asset, in our view.” Nektar Therapeutics closed on Thursday at $13.85.