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Fly News Breaks for August 9, 2019
NKTR
Aug 9, 2019 | 09:37 EDT
BMO Capital analyst George Farmer lowered his price target on Nektar to $41 after the company discovered "defective bempeg drug lots administered in PIVOT-2" study, saying the development clouds his view of on-going non-small cell lung, renal cell, and urothelial carcinoma trials. The analyst still keeps his Outperform rating on Nektar given the high potential of bempeg in melanoma, but expects the negative sentiment to persist until the next pivotal trial updates in the second half of 2020.
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