Shares of PureTech Health (NASDAQ: PRTC) were trending lower in pre-market trading on Friday even as the biotherapeutics company confirmed that it had “exchanged indicative, non-binding proposals with Nektar Therapeutics regarding a possible combination.”
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The company was in ongoing discussions with Nektar (NASDAQ: NKTR) and Nektar will be required by no later than 5.00 p.m. on November 3 to either make a firm offer or announce that it does not intend to make an offer.
Is PureTech a Buy, Hold or Sell?
Only two analysts have covered the stock in the past three months and both have a Buy rating on the stock.
The average price target for PRTC stock is $57 with an upside potential of 83.8% at current levels.
