Merrill puts Nektar at buy

Nektar Therapeutics Inc. was given a buy rating by Merrill Lynch analyst Hari Sambasivam. The analyst is estimating total revenues for the quarter of $40.9 million and a pro forma net loss of $31.4 million, or $0.35 per share. Consensus loss per share for the quarter is $0.37. Nektar increased its 2006 guidance for Exubera-related revenues to $70 million to $90 million from $60 million to $80 million. Shares of the San Carlos, Calif.-based biopharmaceutical company were up 3 cents, or 0.18%, at $16.50 on volume of 950,156 shares versus the three-month running average of 1,894,020 shares. (Nasdaq: NKTR)

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