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NKTR

Nektar

$85.79

2.38 (2.85%)

06:54
05/17/18
05/17
06:54
05/17/18
06:54

Nektar may sell off modestly on ASCO abstract, says JPMorgan

JPMorgan analyst Jessica Fye says that consistent with her expectation heading into last night's abstracts, Nektar Therapeutics' NKTR-214 update was not definitive as it relates to the ultimate profile for the product. Management emphasized in advance that follow up would be limited for the new patients in the abstract, and this was "abundantly evident" with 22 of the 30 Phase II patients having had only one scan, Fye tells investors in a research note. Overall, the analyst sees "bright spots" in the abstract from signs of durable responses, tolerability, and an "intriguing" signal in bladder cancer. She notes, however, that some investors will pick at the decreased overall response rates in the new patients in melanoma, renal cell carcinoma and lung. While the limited follow up in the abstract was well-telegraphed, Nektar shares trading modestly lower today would not be surprising, Fye writes. The analyst keeps an Overweight rating on the stock.

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NKTR Nektar
$85.79

2.38 (2.85%)

04/26/18
PIPR
04/26/18
NO CHANGE
Target $125
PIPR
Overweight
Nektar data at ASCO to confirm already positive data, says Piper Jaffray
Following Incyte's (INCY) epacadostat failure and the recent, "relatively underwhelming" Bristol-Myers (BMY) lung cancer dataset, there has been a negative shift in investor sentiment towards pure immuno-oncology combination approaches, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. The analyst believes there is now increased scrutiny towards uncontrolled trials with low patient numbers, and thinks investors will require a more significant margin of improvement when compared to standard of care until definitively proven in Phase III. As such, he expects investors to be increasingly critical of early IO combination data. Nevertheless, he continues to believe that Nektar Therapeutics' (NKTR) NKTR-214 data at ASCO in early June will be "confirmatory of the already positive data in existing tumor types and supportive of new indications." He keeps an Overweight rating on Nektar shares with a $125 price target.
05/11/18
PIPR
05/11/18
NO CHANGE
Target $125
PIPR
Overweight
Piper expects positive oral presentation from Nektar in early June
Piper Jaffray analyst Tyler Van Buren believes next Wednesday's ASCO abstract for Nektar's Phase I/II Pivot study of NKTR-214 in combination with nivolumab will be one of the most highly anticipated abstracts of the conference. The analyst notes, however, that the abstract will be from a February data cut while the oral presentation in early June will be from a data cut later this month. As such, the oral presentation will contain "significantly more mature data and should ultimately be relied on to make conclusions about the anti-tumor activity," Van Buren tells investors in a research note. He believes the oral presentation will be positive and keeps an Overweight rating on Nektar Therapeutics with a $125 price target following the company's Q1 results.
05/14/18
HCWC
05/14/18
NO CHANGE
Target $125
HCWC
Buy
Nektar pullbacks 'could get compelling,' says H.C. Wainwright
H.C. Wainwright analyst Debjit Chattopadhyay said ASCO abstracts featuring data from Nektar's ongoing PIVOT-02 study have potentially reset expectations, but he also noted that the actual podium presentation is likely to include an updated cut of data from up to late May. The analyst, who thinks pullbacks in Nektar Therapeutics shares "could get compelling," maintains a Buy rating and $125 price target on the stock.
05/16/18
PIPR
05/16/18
NO CHANGE
Target $125
PIPR
Overweight
Nektar 214+nivo response for melanoma not conclusive, says Piper Jaffray
Piper Jaffray analyst Tyler Van Buren keeps his Overweight rating and $125 price target on Nektar (NKTR) after the release of PIVOT ASCO abstract of NKTR 214+nivo (BMY). The analyst says that while the 1L melanoma response rate may be "slightly lower than some had hoped for", the 1L RCC response rate were "nicely above" what has been seen with ipi+nivo treatment. Van Buren adds that while small in numbers, "3/4 responses in 1L bladder and 1/3 responses in triple negative breast cancer are encouraging." The analyst believes that the stock may be down in the morning, but investors should not come to "rash conclusions", as the ASCO presentation with more patients and detail is likely to be positive.

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