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NKTR

Nektar

$34.06

-1.24 (-3.51%)

20:30
11/11/18
11/11
20:30
11/11/18
20:30

Piper Jaffray bullish on Nektar, more confident in Phase III study success

Following Nektar's updated data from the melanoma cohort at SITC, Piper Jaffray analyst Tyler Van Buren says it is clear that everyone has been "too myopic" by solely focusing on overall response rates. Despite this, the analyst says that it was "encouraging to see" it actually increase to 53% following independent central radiology, and compares well to nivo monotherapy. More importantly, a 24% CR rate is "impressive" at this stage, he contends. The analyst argues that the more durable responses appear to be translating to improved mPFS as it is not nearly reached with the study having about 8 months of median follow-up. Van Buren reiterates an Overweight rating and $125 price target on the shares as he is now incrementally more confident in Phase III study success.

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NKTR Nektar
$34.06

-1.24 (-3.51%)

11/05/18
HCWC
11/05/18
NO CHANGE
Target $47
HCWC
Neutral
Nektar price target lowered to $47 from $54 at H.C. Wainwright
H.C. Wainwright analyst Debjit Chattopadhyay lowered his price target for Nektar Therapeuticsless than (NKTR) to $47 and keeps a Neutral rating on the shares. While the Phase 3 trial of Opdivo plus NKTR-214 is welcome news, the company faces a crowded frontline renal cell carcinoma treatment landscape and stiff commercial hurdles, Chattopadhyay tells investors in a research note. He believes that unless the NKTR-214 plus Opdivo combination is meaningfully superior to the Opdivo and Yervoy combination, Bristol-Myers (BMY) "may not be willing to muscle the commercial launch, given the cannibalization of its existing franchise."
11/06/18
PIPR
11/06/18
NO CHANGE
PIPR
Nektar abstract references old 50% ORR, says Piper Jaffray
The regular Society for Immunotherapy of Cancer abstract that provides an update of the first line melanoma patient cohort in the ongoing PIVOT-02 trial testing the combination of Nektar Therapeutics's NKTR-214 plus Opdivo was posted, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. He points out that 41 patients were enrolled with 38 evaluable for efficacy and the investigator-assessed objective response rate as of July 12 was 50%. Van Buren says that while is this is what we already knew, it confirms his prior assumption of the 50% response rate floor heading into the Friday afternoon updated data presentation. On Friday, the analyst expects to receive an updated response rate and more details on the quality of response. Finally, no responder has relapsed in this cohort and median duration of response has not been reached, which is promising as we begin to think about the probability of success for the Phase III trial, says the analyst. Shares of Nektar are down 7%, or $2.75, to $37.25 in pre-market trading.
11/08/18
JEFF
11/08/18
NO CHANGE
Target $73
JEFF
Buy
Nektar price target lowered to $73 from $103 at Jefferies
Jefferies analyst David Steinberg lowered his price target for Nektar Therapeutics (NKTR) to $73 after reducing his assumptions for NKTR-214 to reflect a potentially prolonged delay in non-small-cell lung carcinoma. The analyst, however, keeps a Buy rating on the shares following the company's Q3 results. He points out that Nektar's partnership with Bristol-Myers (BMY) as well as its other collaborations are ramping up.
11/08/18
HCWC
11/08/18
NO CHANGE
Target $47
HCWC
Neutral
Nektar shares may have bottomed, says H.C. Wainwright
During last night's Q3 corporate update call, Nektar Therapeutics provided clarity on soon to be initiated Phase 3 programs, with a vital expansion cohort in second line non-small cell lung cancer, H.C. Wainwright analyst Debjit Chattopadhyay tells investors in a research note. While the renal cell carcinoma, bladder, and melanoma studies were telegraphed previously, "clarity was welcome news for the bulls," says Chattopadhyay. However, the analyst adds that RCC and melanoma remain very crowded and that the initiation of triplet studies, if successfully clinically, "would significantly add to the financial toxicity discussion, especially since NKTR-214 is likely to be marketed as a unique medicine." Chattopadhyay thinks the newly defined cohort of approximately 100 second-line NSCLC patients to the ongoing Pivot trial is key to sentiment around the NKTR-214 story during the second half of 2019. He attributes the recent pullback in Nektar shares to disappointment from the preliminary read from the SITC abstract. Nonetheless, with a host of trial initiations and multiple combination updates at disease specific conferences during 2019, the stock may have bottomed, Chattopadhyay writes. However, the analyst says that while the study initiations and data releases should "quell some fears," the data quality "needs a pickup." He keeps a Neutral rating on Nektar with a $47 price target.

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MSM

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KFS

Kingsway Financial

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AWK

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SCHW

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FCCY

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QUMU

Qumu

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