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NKTR

Nektar

$17.90

0.33 (1.88%)

07:17
09/30/19
09/30
07:17
09/30/19
07:17

Competitive updates bring new challenges for Nektar bulls, says H.C. Wainwright

H.C. Wainwright analyst Debjit Chattopadhyay sees "fresh challenges" for bulls of Nektar Therapeutics' bempeg following competitive updates this weekend in urothelial cancer and triple-negative breast cancer. The EV-103 study, which evaluated the combination of enfortumab vedotin plus pembrolizumab in previously untreated, locally advanced or metastatic urothelial cancer, who were ineligible for cisplatin-based chemotherapy, delivered an overall response rate of 71%, Chattopadhyay tells investors in a research note. This is well above the 48% ORR reported for the bempeg plus nivolumab combination in a potentially similar patient population, adds the analyst, who keeps a Neutral rating on Nektar shares with a $24 price target.

NKTR Nektar
$17.90

0.33 (1.88%)

08/09/19
JEFF
08/09/19
DOWNGRADE
Target $23
JEFF
Hold
Jefferies downgrades Nektar on increased uncertainty with lead program
Jefferies analyst David Steinberg downgraded Nektar Therapeutics to Hold from Buy and cut his price target for the shares to $23 from $59. The company last night disclosed a manufacturing issue that resulted in batch to batch variability in certain early lots of bempeg used in clinical testing, Steinberg tells investors in a research note. The analyst believes the disclosure increases uncertainty surrounding Nektar's lead program. While management believes they have a handle on the situation, their hypothesis may not be confirmed for some time, says the analyst.
08/09/19
WBLR
08/09/19
NO CHANGE
WBLR
William Blair an 'aggressive' buyer of Nektar on today's 37% selloff
William Blair analyst Andy Hsieh is an "aggressive" buyer of Nektar Therapeutics (NKTR) on today's selloff. The stock is down after management disclosed that the scope of collaboration with partner Bristol-Myers (BMY) is now narrowed to roughly five or six registrational trials from the planned 18 first announced in January of this year, and that there were some issues pertaining to the manufacturing of bempegaldesleukin that potentially led to the drastic difference in response rate between the November 2017 and June 2018 data announcement of the Phase II PIVOT-02 results, Hsieh tells investors in a research note. While acknowledging that the development is "directionally negative," the analyst believes the magnitude of the Nektar selloff overshoots the potential impact. In addition, Nektar is working with the FDA and partner Bristol-Myers to resolve the manufacturing issue by establishing new quality control initiatives, Hsieh points out. He believes empegaldesleukin "remains differentiated" and he keeps an Outperform rating on Nektar Therapeutics. The stock in premarket trading is down 37%, or $10.92, to $18.65.
08/09/19
BMOC
08/09/19
NO CHANGE
Target $41
BMOC
Outperform
Nektar price target lowered to $41 from $75 at BMO Capital
BMO Capital analyst George Farmer lowered his price target on Nektar to $41 after the company discovered "defective bempeg drug lots administered in PIVOT-2" study, saying the development clouds his view of on-going non-small cell lung, renal cell, and urothelial carcinoma trials. The analyst still keeps his Outperform rating on Nektar given the high potential of bempeg in melanoma, but expects the negative sentiment to persist until the next pivotal trial updates in the second half of 2020.
09/26/19
PIPR
09/26/19
NO CHANGE
Target $50
PIPR
Overweight
Nektar breast cancer data 'promising,' warrants more study, says Piper Jaffray
There is a large unmet need for patients with triple negative breast cancer and of all of the indications tested with checkpoint inhibitors, these patients unfortunately have one of the poorest responses to treatment, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. Therefore, today's initial triple negative breast cancer that demonstrate NKTR-214 in combination with nivolumab produces a 13% overall objective response rate is "promising" and justifies additional study in future clinical trials with chemo, contends Van Buren. Also worth noting is the five responses appear durable with four of them lasting beyond one-and-a-half years relative to chemo, which typically has a short median progression-free survival of two-to-three months, adds the analyst. Van Buren, who does not currently include triple negative breast cancer in his Nektar model pending additional clinical data, keeps an Overweight rating on the shares with a $50 price target. The stock in morning trading is down 6% to $17.60.

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Federal Reserve Bank of St. Louis president speaks at a luncheon »

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KKR

KKR

$29.68

0.3 (1.02%)

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AMZN

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MRTX

Mirati Therapeutics

$102.34

1.6 (1.59%)

12:05
11/14/19
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Options
Mirati Therapeutics call volume above normal and directionally bullish »

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The Treasury's $95 B 4- and 8-week bill offerings were mixed »

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WMT

Walmart

$119.87

-1.19 (-0.98%)

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$44.69

-3.75 (-7.74%)

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Fly Intel: Wall Street's top stories at midday »

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WMT

Walmart

$119.87

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CSCO

Cisco

$44.69

-3.75 (-7.74%)

AXNX

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NTAP

NetApp

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2.13 (3.55%)

RBBN

Ribbon Communications

$3.18

-0.87 (-21.48%)

CGC

Canopy Growth

$15.58

-2.94 (-15.87%)

WB

Weibo

$44.80

-8.01 (-15.17%)

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CGC

Canopy Growth

$15.64

-2.88 (-15.55%)

12:00
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Canopy Growth falls -15.6% »

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I

Intelsat

$12.10

-2.31 (-16.03%)

12:00
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Intelsat falls -16.0% »

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CTRA

Contura Energy

$10.25

-7.9 (-43.53%)

12:00
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Contura Energy falls -44.1% »

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GFF

Griffon

$24.95

3.23 (14.87%)

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Griffon rises 14.2% »

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PING

Ping Identity

$18.90

2.4 (14.55%)

12:00
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Hot Stocks
Ping Identity rises 14.5% »

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IGT

International Game

$15.31

2.39 (18.50%)

12:00
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International Game rises 18.8% »

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11:55
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General news
Powell assured the Fed will use its tools "aggressively" if appropriate »

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ACN

Accenture

$194.94

0.43 (0.22%)

11:52
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Accenture announces intent to acquire consulting firm Silveo »

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VOD

Vodafone

$20.50

-0.61 (-2.89%)

11:45
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Vodafone call volume above normal and directionally bullish »

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General news
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11:38
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General news
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TMO

Thermo Fisher

$298.18

-1.72 (-0.57%)

, QGEN

Qiagen

$36.88

1.36 (3.83%)

11:37
11/14/19
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11:37
Upgrade
Thermo Fisher, Qiagen rating change  »

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TMO

Thermo Fisher

$298.18

-1.72 (-0.57%)

QGEN

Qiagen

$36.88

1.36 (3.83%)

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WORK

Slack Technologies

$21.18

-0.12 (-0.56%)

11:35
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11:35
Options
Slack put volume heavy and directionally bearish »

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