Roth Capital Reiterates Buy On Nektar Therapeutics; Sees 46% Potential Upside


In a research report issued today, Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on Nektar Therapeutics (NASDAQ:NKTR) with a $21 price target, which represents a potential upside of 46% from where the stock is currently trading.

Chattopadhyay noted, “Baxter’s (NYSE:BAX) BAX-855 was designed to address the limited half-life, a key commercial shortcoming of the parent product, Advate. With emergent competition from BioGen Idec’s (BIIB-NC) long-acting Eloctate, BAX-855 delivered a compelling phase 3 win, which should allow it to effectively compete against Eloctate. We anticipate BLA filing during 4Q14, and launch in 1Q16. We estimate ~40% of Advate’s $2B franchise to switch to BAX-855, which could generate up to $100M in annual revenue 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 6.6% and a 50.0% success rate. Chattopadhyay has a 11.1% average return when recommending NKTR, and is ranked #1286 out of 3264 analysts.

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