Mizuho Securities analyst Difei Yang maintained a Buy rating on Nektar Therapeutics (NASDAQ: NKTR) today and set a price target of $103. The company’s shares closed yesterday at $55.96.
Yang observed:
“We highlighted results in our previous note here. Nektar, in collaboration with Bristol Myers, is expected to initiate a phase 3 registrational trial in first- line melanoma in 3Q18. In addition, pivotal studies are also currently being designed and expected to start in 2018 for renal cell carcinoma (RCC) and urothelial cancer (UC).”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 22.7% and a 53.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Currently, the analyst consensus on Nektar Therapeutics is a Strong Buy with an average price target of $92.50, representing a 65.3% upside. In a report issued on July 25, Piper Jaffray also reiterated a Buy rating on the stock with a $125 price target.
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The company has a one-year high of $111.36 and a one-year low of $17.51. Currently, Nektar Therapeutics has an average volume of 4.2M.
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.
