Nektar initiated by Global Crown at underweight

Nektar Therapeutics Inc. coverage was initiated by Global Crown Capital analyst Kate Winkler at an underweight rating. Nektar is heavily investing in and dependent upon approval of Pfizer's Exubera - inhaled insulin - for which an FDA decision is expected this fall, which is far from certain, Global Crown said. Nektar shares Tuesday fell $0.49, or 2.65%, to $18.02 on volume of 1,648,928 shares versus the three-month running average of 934,820 shares.

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