Needham analyst Gil Blum maintained a Buy rating on Nkarta today and set a price target of $10.00.
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Gil Blum has given his Buy rating due to a combination of factors including Nkarta’s strategic management decisions and robust financial standing. The company has opted to delay the results of its Ntrust-1/2 trials to gather more comprehensive data, with the results now expected to be presented at a medical conference in 2026. This decision is supported by Nkarta’s strong cash reserves of $316.5 million, which provide financial flexibility and ensure operations can continue smoothly until 2029.
Additionally, recent interactions with the FDA have led to a more streamlined trial process, eliminating the need for staggered patient enrollment. This change allows for a more efficient dose escalation strategy, enhancing the potential for successful trial outcomes. The company’s strategic shift to Flu/Cy conditioning is also a response to previous challenges, indicating a proactive approach to improving trial results. These factors collectively underpin the Buy rating and the $10 target price set by Gil Blum.
Blum covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals, Taysha Gene Therapies, and Autolus Therapeutics. According to TipRanks, Blum has an average return of 4.7% and a 39.76% success rate on recommended stocks.