Nektar Therapeutics: BAX-855 And Movantik Wins Not Being Reflected In The Stock, Says Roth Capital
In a research report released today, analyst Debjit Chattopadhyay of Roth Capital maintained a Buy rating on Nektar Therapeutics (NASDAQ:NKTR) with a $21 price target, which implies an upside of 69% from current levels.
Chattopadhyay noted, “With Movantik’s global launch during 1H15 and a compelling phase 3 win for BAX-855, we believe NKTR is well-positioned for significant revenue growth. Along with its partnered programs (multiple anti-infective phase 3 readouts during 2015), NKTR has been steadily transforming its out-licensing focused business model with a robust in house R&D effort directed towards oncology and chronic pain. Given its robust balance sheet and $200M+ in additional milestones we continue to view NKTR as a compelling Buy at current levels.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Debjit Chattopadhyay has a total average return of -15.5% and a 23.3% success rate. Chattopadhyay has a -8.1% average return when recommending NKTR, and is ranked #3295 out of 3332 analysts.