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Fly News Breaks for March 18, 2015
NKTR
Mar 18, 2015 | 06:49 EDT
JPMorgan lowered its price target for Nektar Therapeutics to $17 after the company's Phase III metastatic breast cancer study missed the primary endpoint. The firm says despite expectations being relatively low heading into the results, shares will trade off today as an upside driver has been removed. It continues to view Nektar's royalty streams and pipeline assets as undervalued and keeps an Overweight rating on the name.
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