Hapoalim Securities healthcare analyst Jon LeCroy maintains his Buy rating for shares of Nektar Therapeutics NKTR.
Nektar's new cancer drug NKTR-102 is in trials right now, with results expected in mid-2010.
"Dr. Verschraegen, who discussed the data, stated that the results were at the high-end of what would be expected in an ovarian cancer trial, failing to consider that the 102 study was essentially a fourth-line trial that would have been expected to show minimal response. We view the post ASCO weakness as an opportunity and think that breast cancer data could boost NKTR shares," LeCroy said.
Hapoalim puts shares of Nektar at $16.00 a share, based on a sum-of-the-parts model. Nektar is currently trading at $11.36.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorAnalyst RatingsHapoalim SecuritiesHealth CareJon LeCroyLife Sciences Tools & Services
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in