Analyst Julian Harrison of BTIG maintained a Buy rating on Nektar Therapeutics, retaining the price target of $100.00.
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Julian Harrison has given his Buy rating due to a combination of factors related to Nektar Therapeutics’ potential in the treatment of alopecia areata (AA). The company is anticipated to release Phase 2 REZOLVE-AA data, which could significantly impact its valuation. The expectation is that a placebo-adjusted mean change in the SALT score of 20% or more would indicate effective treatment, aligning with the target product profile for REZPEG in AA.
Another reason for the Buy rating is REZPEG’s favorable safety profile compared to JAK inhibitors, which could allow it to be used earlier in the treatment process despite potentially lower efficacy. The absence of serious side effects like infections or cancer makes it an attractive option. Additionally, the potential for a remittive effect, where patients maintain hair after discontinuing treatment, adds to the drug’s appeal. These factors, combined with the stock’s current discount to its potential, make it a compelling buy opportunity.
In another report released on November 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $120.00 price target.
NKTR’s price has also changed dramatically for the past six months – from $0.715 to $56.680, which is a 7827.27% increase.