Nektar Therapeutics (NKTR +5.4%
) gets a big boost out of Lazard Capital today, after it initiated the drug developer
with a Buy rating and a price target of $15 a share. The company has a solid pipeline with a number of drugs on its docket, including Naloxegol, which has just finished Phase III testing, Cipro DPI with Bayer in Phase III and Baxter 855 and Amikacin Inhale preparing for Phase III. Royalties on these products alone are capable of generating over $750M a year.