Roth Capital Reiterates Buy On Nektar Therapeutics Following Anticipated Post-Approval Clinical Study
In a research report issued today, Roth Capital analyst Debjit Chattopadhyay maintained a Buy rating on Nektar Therapeutics (NASDAQ:NKTR) with a price target of $21.00.
Chattopadhyay observed, “A 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 3273 analysts.