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Fly News Breaks for February 28, 2020
Feb 28, 2020 | 08:39 EDT
BTIG analyst Robert Hazlett lowered the firm's price target on Nektar to $80 from $101 but keeps a Buy rating on the shares after its Q4 results. The analyst says the company's R&D spending target was below his estimate, which is pushing out some "milestones" that he had modeled for NKTR-358 and its other pipeline drugs, and also removes the contribution of Onzeald program from models. Hazlett remains "highly constructive" on the stock however ahead of the pivotal data for NKTR-214 in first-line melanoma around year-end, as well as the company's robust and diverse pipeline emerging.
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