BTIG analyst Julian Harrison has maintained their bullish stance on NKTR stock, giving a Buy rating today.
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Julian Harrison has given his Buy rating due to a combination of factors, primarily the breadth and depth of the REZPEG development program and the strength of the Phase 2 data in atopic dermatitis and alopecia areata. He views the upcoming Phase 3 ZENITH-AD trials, which are structured to support both first- and second-line use across biologic-naive and treatment-experienced patients, as setting up a clear path to potential regulatory approval in the U.S. and Europe.
He also highlights multiple near- and mid-term data catalysts, including off-treatment follow-up in alopecia areata that could showcase a remittive profile versus JAK inhibitors, as well as proof-of-concept and Type 1 diabetes readouts expected around 2027. In addition, he underscores Nektar’s strong balance sheet, with cash runway guided into 3Q28, which reduces financing risk and supports continued pipeline advancement, making the stock attractive at current levels even as the $178 price target remains unchanged.
NKTR’s price has also changed dramatically for the past six months – from $55.970 to $83.370, which is a 48.95% increase.