H.C. Wainwright raised the firm’s price target on Nektar (NKTR) to $135 from $120 and keeps a Buy rating on the shares after the company reported “encouraging” topline results from the 36-week induction phase of its Phase 2b REZOLVE-AA study of rezpeg in alopecia areata. Following the data, the firm is increasing its view of the odds of launch for rezpeg in AA to 25%, from 20%, and it projects the drug to generate risk-adjusted revenues of $59M in 2030, growing to $380M by 2035.
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