H.C. Wainwright analyst Debjit Chattopadhyay maintained a Hold rating on Nektar Therapeutics (NASDAQ: NKTR) today and set a price target of $54. The company’s shares closed yesterday at $59.37.
Chattopadhyay wrote:
“Our 12-month, $54 price target on the shares of Nektar is based on a 13-year DCF-driven, sum-of-the-parts analysis. Our DCF is driven by beta of 1.10, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 8.4%, and tax rate of 15% beginning in FY 2023. Pending further data updates, we have eliminated NSCLC from our model, which represented about 30% of our valuation in our prior model. Cancer together represent about 64% of our target.”
According to TipRanks.com, Chattopadhyay is a 2-star analyst with an average return of 0.6% and a 43.2% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Mersana Therapeutics Inc, and Voyager Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nektar Therapeutics with a $90 average price target.
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Nektar Therapeutics’ market cap is currently $9.64B and has a P/E ratio of 12.14. The company has a Price to Book ratio of 165.41.
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NKTR in relation to earlier this year.
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Nektar Therapeutics is a clinical-stage biopharmaceutical company, which engages in developing drug candidates that utilize its PEGylation and polymer conjugate technology platforms. It operates through the United States and Europe geogrpahical segments. The company was founded in 1990 and is headquartered in San Francisco, CA.
