Roth Capital Reiterates Buy On Nektar Pharma, Sees 51% Upside For The Stock
In a research report released today, Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on Nektar Pharma (NASDAQ:NKTR) with a $21 price target, which represents a 51% upside from where the stock is currently trading.
Chattopadhyay wrote, “An deep dive into FDA briefing document on CV risks associated with PAMORAs, ADCOMM minutes, and transcripts, suggests that cardiovascular risks associated with Movantik appear low compared to Entereg. Furthermore, FDA communications with competitor Salix Pharmaceuticals (SLXP-Buy-$154.51) point to a potential positive decision on Relistor, which is potentially positive for Movantik. Reiterate Buy as we expect Movantik to become the first oral PAMORA for chronic pain patients with OIC, which could translate into $100M+ annual royalty stream for NKTR.”
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 1.3% and a 33.3% success rate. Chattopadhyay has a 0.2% average return when recommending NKTR, and is ranked #2014 out of 3289 analysts.