J.P. Morgan Maintains Overweight Rating On Nektar Therapeutics

According to J.P. Morgan, Nektar Therapeutics NKTR maintains its Overweight rating. J.P. Morgan said that it recently surveyed 50 oncologists to assess current sentiment for NKTR-102 as a potential therapy for metastatic breast cancer (mBC). “At this relatively early juncture, physicians appear to have limited knowledge of the drug. However, there is a clear desire for improved chemotherapy options for mBC and also some enthusiasm for 102's emerging efficacy/safety profile. Thus, we believe that if NKTR can replicate the Ph2 data in larger studies, 102 has the potential to become a useful addition to the mBC treatment armamentarium. Although key near-term data readouts are lacking (incremental updates expected this weekend at ASCO), we continue to believe NKTR represents an attractive long-term opportunity at current levels. Maintain OW.” Nektar Therapeutics closed yesterday at $9.34.