Roth Capital analyst Debjit Chattopadhyay was out pounding the table on Nektar Therapeutics (NASDAQ:NKTR) Thursday, maintaining a Buy rating on the stock with price target of $19.00, which implies an upside of 62.5% from current levels.
Chattopadhyay commented, “The ongoing commercialization of Movantik and the anticipated launch of BAX-855 support Nektar’s current valuation (EV~$1.3B), in our view. NKTR-214, a novel CD122-biased immuno-oncology drug candidate appears to be highly selective at increasing CD8+ Tcells without activating Treg’s, and lead to potent synergy with checkpoint inhibitors. Phase 1/2 in collaboration with MD Anderson could lead to rapid value creation.”
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 32.5% and a 72.4% success rate. Chattopadhyay has a -18.7% average return when recommending NKTR, and is ranked #12 out of 3632 analysts.
Out of the 7 analysts polled by TipRanks, 6 rate Nektar Therapeutics stock a Buy, while 1 rates the stock a Hold. With a return potential of 38.3%, the stock’s consensus target price stands at $16.17.