H.C. Wainwright analyst Debjit Chattopadhyay maintained a Hold rating on Nektar Therapeutics (NKTR) today and set a price target of $47. The company’s shares closed on Friday at $38.13, close to its 52-week low of $29.22.
Chattopadhyay wrote:
“Our 12-month, $47 price target on shares of Nektar is based on a 13-year DCF-driven, sum-of-the-parts analysis. Our DCF is driven by beta of 1.24, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 9.0%, and tax rate of 15% beginning in FY 2023. Cancer together represent about 71% of our target. In RCC, we assume commercial adoption in patients with PD-L1 expression at <1% (about 67% of the total clear cell RCC opportunity)."
According to TipRanks.com, Chattopadhyay is a 3-star analyst with an average return of 1.3% and a 47.9% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.
Currently, the analyst consensus on Nektar Therapeutics is a Strong Buy with an average price target of $77.67.
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Based on Nektar Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $98.21 million. In comparison, last year the company had a GAAP net loss of $33.83 million.
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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.
