Merrill puts Netkar at buy

Nektar Therapeutics was given a buy rating by Merrill Lynch analyst Hari Sambasivam. The analyst estimates Nektar's total revenues for the quarter at $48 million, including $23 million of Exubera-related revenues. Sambasivam also estimates quarterly total expenses of $85 million, including $39 million in research and development. During the company's Nov. 2 conference call, the analyst will look for an update on the status of Exubera manufacturing and plans to deploy significant cash reserves of $476 million. Shares of the San Carlos, Calif.-based biopharmaceutical company were down 5 cents, or 0.33%, at $15.03. (Nasdaq: NKTR)

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