BTIG analyst Julian Harrison has maintained their bullish stance on NKTR stock, giving a Buy rating yesterday.
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Julian Harrison’s rating is based on the positive topline results from the REZOLVE-AA trial, where REZPEG met its targeted product profile and demonstrated meaningful clinical benefits. The treatment showed promising efficacy, particularly in severe alopecia areata patients, with significant hair regrowth results and improvements in SALT scores in post-hoc analysis. Additionally, its favorable safety and tolerability profile, including the low rate of adverse events, supports its potential as a safer alternative to JAK inhibitors in this high unmet need indication.
Harrison also highlights the potential for REZPEG beyond alopecia areata due to its Treg expansion mechanism, which could enable a broader range of applications. Despite the strong clinical evidence, the stock appears undervalued, opening a near-term buying opportunity. This, combined with an increased probability of success for the treatment in alopecia areata and a raised price target, supports the recommendation for a Buy rating.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $135.00 price target.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NKTR in relation to earlier this year.