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Fly News Breaks for January 7, 2016
NKTR
Jan 7, 2016 | 06:41 EDT
Piper Jaffray analyst Joshua Schimmer raised his price target for Nektar Therapeutics to $20 saying the company's reallocation of expenses towards NKTR-214, a long-acting IL-2 receptor agonist, should enable the royalty from Movantik and Adynovate to drive the company towards meaningful profitability. Nektar is emerging as a top mid-cap pick, Schimmer tells investors in a research note. He keeps an Overweight rating on the name.
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