H.C. Wainwright analyst Arthur He CFA maintained a Buy rating on Nektar Therapeutics (NKTR – Research Report) today and set a price target of $6.50.
Arthur He CFA has given his Buy rating due to a combination of factors that suggest Nektar Therapeutics is poised for significant growth. The company has recently completed enrollment in its Phase 2b REZOLVE-AD study, which is evaluating the drug rezpeg for treating moderate-to-severe atopic dermatitis. The study’s design is robust, involving a randomized, double-blind, placebo-controlled trial across multiple centers, and the results are anticipated to be a major catalyst for the company when topline data is reported in the second quarter of 2025.
Arthur He CFA believes that the scientific rationale behind rezpeg is strong, supported by encouraging Phase 1b data. If rezpeg demonstrates an efficacy and safety profile comparable to existing treatments like dupilumab, it could capture a significant market share due to its unique mechanism of action. The analyst projects that rezpeg could generate substantial revenue by 2035, indicating a promising commercial potential. These factors collectively underpin the Buy rating for Nektar Therapeutics.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $7.00 price target.