Nektar Therapeutics (NKTR) Abstract Adds Credibility To Approval Thesis, Reit Buy At BTIG

BTIG analyst, Robert Hazlett, reiterated his Buy rating on shares of Nektar Therapeutics (NASDAQ: NKTR) after the company announced an encouraging Bladder Cancer Abstract for NKTR-214 at ASCO GU. Data for 23 patients with first line urothelial carcinoma (UC) was announced for Abstract 388 offering more visibility into the possible initial approval opportunity for NKTR-214.

The analyst stated "214’s response decreased modestly from the 60% ORR (6/10) at ASCO 2018, though remains well above what is likely to be necessary for meaningful response and licensure in UC patients". "The NKTR-214+Opdivo combo is in aggressive development with the potential to expand IO at least into PD-L1- or in IO failure patients. The first 10 of 20 Phase 3 studies for 214 combos will begin by 2Q19, with readouts beginning in 2020".

No change to the price target of $101.

For an analyst ratings summary and ratings history on Nektar Therapeutics click here. For more ratings news on Nektar Therapeutics click here.

Shares of Nektar Therapeutics closed at $46.35 yesterday.

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