Promising Efficacy and Safety of Rezpegaldesleukin Positions Nektar Therapeutics as a Leader in Alopecia Areata Treatment

Citi analyst Samantha Semenkow maintained a Buy rating on Nektar Therapeutics yesterday and set a price target of $102.00.

Samantha Semenkow has given her Buy rating due to a combination of factors, including the promising proof-of-concept results for rezpegaldesleukin (rezpeg) in treating alopecia areata (AA). The Phase 2b REZOLVE-AA trial indicated statistically significant improvements in SALT scores after adjusting for patient enrollment errors, showcasing clear efficacy compared to placebo and providing evidence of a sustained treatment response. Additionally, the deepening of treatment effect over time and a favorable comparison to existing therapies highlights rezpeg as a compelling candidate in an area with limited effective and safe treatment options.
Samantha Semenkow also emphasizes rezpeg’s clean safety profile throughout the trial, with no incidents of serious adverse events such as pyrexia and only mild/moderate injection site reactions that were transient and self-resolving. This tolerability, along with the potential for its effectiveness to carry over into broader trials and indications, positions the drug as an attractive opportunity in the market. The upcoming FDA discussions for Phase 3 trials further support the optimism around Nektar Therapeutics’ development trajectory and its ability to address unmet medical needs in AA treatment.

In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $115.00 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.