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NKTR

Nektar

$46.46

-2.91 (-5.89%)

05:30
07/25/18
07/25
05:30
07/25/18
05:30

Piper reiterates $125 price target on Nektar following management meeting

During recent meetings with management, it was a relief to hear of Nektar Therapeutics' "refined approach" to presenting data moving forward, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. Further, the analyst came away with increased confidence in the future updated response rates for melanoma and renal cell carcinoma, which he hopes to receive in the fall. He reminds investors that NKTR-214 is now the only remaining immuno-oncology combo candidate in late-stage clinical development targeting an addressable market "that should soon surpass $30B in sales." The recent aggressive pullback in Nektar shares "presents an interesting long opportunity," Van Buren tells investors in a research note. He reiterates an Overweight rating on the stock with a $125 price target. Nektar closed yesterday down $2.91 to $46.46.

NKTR Nektar
$46.46

-2.91 (-5.89%)

06/11/18
HCWC
06/11/18
DOWNGRADE
Target $54
HCWC
Neutral
Nektar downgraded to Neutral from Buy at H.C. Wainwright
H.C. Wainwright analyst Debjit Chattopadhyay downgraded Nektar Therapeutics to Neutral and cut his price target for the shares to $54 from $97. The stock closed Friday up $1.17 to $54.14. An updated cut of NKTR-214 data presented at an investor conference on June 06, does not assuage fears on the outlook of NKTR-214 in the post ECHO-301, immuno-oncology combination therapy landscape, Chattopadhyay tells investors in a research note. This has been "further punctured by the lack of meaningful updates" in non-small-cell lung carcinoma, the primary driver of NKTR-214's valuation in an environment where competition is better positioned, the analyst contends. Chattopadhyay now has a "less than sanguine read of the emerging data" from Nektar.
06/11/18
06/11/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. SemGroup (SEMG) downgraded to Market Perform from Outperform at Wells Fargo with analyst Michael Blum saying he believes its growth trajectory is mostly reflected in valuation. 2. Host Hotels (HST) and Park Hotels (PK) were downgraded to Sell from Neutral at Goldman Sachs, Host Hotels was also downgraded to In Line from Outperform at Evercore ISI. 3. NXP Semiconductors (NXPI) downgraded to Hold from Buy at SunTrust with analyst William Stein saying the current stock price is above fair value and demands "an explicit view" that the Qualcomm (QCOM) bid will receive approval from China regulators. 4. Nektar (NKTR) downgraded to Neutral from Buy at H.C. Wainwright with analyst Debjit Chattopadhyay saying an updated cut of NKTR-214 data presented at an investor conference on June 06, does not assuage fears on the outlook of NKTR-214 in the post ECHO-301, immuno-oncology combination therapy landscape. 5. DDR Corp. (DDR) downgraded to Underperform from In Line at Evercore ISI. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/15/18
MZHO
06/15/18
NO CHANGE
Target $103
MZHO
Buy
Nektar's 214 still 'the most promising agent in I-O today,' says Mizuho
Mizuho analyst Difei Yang still views NKTR-214 as "the most promising agent in I-O today" and contends that the recent correction in Nektar shares following data presented at ASCO was overdone. Yang keeps a Buy rating and $103 price target on Nektar shares.
06/19/18
06/19/18
DOWNGRADE
Target $300

In Line
Madrigal cut to In Line at Evercore ISI following run-up in price, expectations
As previously reported, Evercore ISI analyst Josh Schimmer downgraded Madrigal Pharmaceuticals (MDGL) to In Line from Outperform, stating that he has no real incremental reason to raise his $300 price target, which the stock has achieved following the company's encouraging Phase 2 results for MGL-3196 and a Bloomberg report that has driven takeover speculation. Given current investor sentiment, anything short of either an acquisition or a "massive" collaboration like Bristol-Myers' (BMY) with Nektar (NKTR) will fall short of expectations, Schimmer tells investors.

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