Nektar price target raised to $150 from $105 at B. Riley

B. Riley raised the firm’s price target on Nektar (NKTR) to $150 from $105 and keeps a Buy rating on the shares. Nektar’s recently reported 52-week maintenance data for REZOLVE-AD and the removal of the equity financing overhang set up a compelling catalyst roadmap, the analyst tells investors in a research note. The longer-term efficacy and durability of Rezpeg in alopecia areata and Atopic Dermatitis, along with infrequent dosing, could drive peak risk-adjusted sales to $2B, improve its competitive position versus JAK inhibitors and biologics, and potentially accelerate Phase 3 AtD enrollment, the firm says.