Roth Capital Maintains Buy On Nektar Therapeutics Ahead Of FDA PDUFA Date
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, two weeks ahead of the company’s PDUFA date.
Chattopadhyay wrote, ” We believe Movantik is well-positioned for a first-pass approval. FDA briefing document (June 2014) indicates that OIC impacts 41% of patients taking opioids for up to eight weeks, and the currently approved products are restricted to a small subset of patients. Hence, for the majority of patients impacted with OIC, Movantik could become the first oral therapy, 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 3.7% and a 33.3% success rate. Debjit has a 4.9% average return when recommending NKTR, and is ranked #1631 out of 3248 analysts.