Jefferies analyst Roger Song raised the firm’s price target on Nektar (NKTR) to $99 from $69 and keeps a Buy rating on the shares after the company announced data from the ongoing REZOLVE-AD Phase 2b study of rezpegaldesleukin. The positive patient-reported outcome assessments add further support for rezpegaldesleukin’s benefit in atopic dermatitis and complimented the efficacy data reported in June, the analyst tells investors in a research note. Jefferies upped the drug’s probability of success to 55% from 45%.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NKTR:
- Nektar Therapeutics Reveals Promising Phase 2b Study Results
- Nektar’s rezpegaldesleukin shows efficacy in Phase 2b atopic dermatitis trial
- Nektar management to meet with Piper Sandler
- Sanofi’s ‘disappointing’ atopic dermatitis data sends Nektar higher
- Piper says competitor AD data reinforces Nektar’s REZPEG differentiated profile