Transformational Quarter Sets Nektar Up for Multiple Commercial Launches, Says Roth Capital
In a research report sent to investors today, Roth Capital analyst Debjit Chattopadhyay maintained a Buy rating on Nektar Therapeutics (NASDAQ:NKTR) with a price target of $21, which represents a potential upside of 56% from where the stock is currently trading. The report follows the company’s third-quarter results.
Chattopadhyay noted, “The FDA approval of Movantik for OIC and the positive phase 3 data for BAX-855 in hemophilia-A, both during 3Q14, have significant ramifications for NKTR’s evolution. Leveraging robust royalty rates on these two multi-billion dollar product opportunities, NKTR is aiming to push forward with its ambitious and diverse pipeline spanning pain and oncology. For 3Q14, NKTR’s reported net income and EPS of $70.6M and $0.53, respectively, well ahead of our estimates driven in part by better expense control.”
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 -12.7% and a 30.9% success rate. Chattopadhyay has a -1.0% average return when recommending NKTR, and is ranked #3328 out of 3365 analysts.