Morgan Joseph Reiterates a 'Buy' on Nektar Therapeutics (NKTR)

November 5, 2009 9:28 AM EST

Morgan Joseph reiterates a 'Buy' on Nektar Therapeutics (Nasdaq: NKTR), price target $12.

Morgan analyst says, "While Nektar Therapeutics continues to be stigmatized by the failure of its inhaled insulin program a few years ago, its PEG technology and pipeline are orchestrating a strong comeback, in our opinion. Since Howard Robin joined Nektar in 2007, the company has gone through a substantial transformation and is focused on monetizing its superior PEG technology platform. The recently announced lucrative partnership with AstraZeneca could be a harbinger of future deals for Nektar's pipeline drugs. NKTR-102, a pegylated version of irinotecan, is currently in mid-stage trials, and could be the company's next partnership candidate."