Nektar receives buy rating from Merrill

Nektar Therapeutics garnered a buy rating from Merrill Lynch analyst Hari Sambasivam after the Committee for Medicinal Products for Human Use of the European Medicines Agency adopted a positive opinion regarding the centralized application for inhaled insulin drug Exubera, which was developed by Pfizer and uses Nektar technology for delivery to the lungs. This opinion follows a positive FDA advisory panel recommendation in early September.

Shares of the San Carlos, Calif.-based biotechnology were up $1.08, or 7.20%, at $16.08 on volume of 5,065,461 shares versus the three-month running average of 1,780,280 shares.

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