Jefferies Assumes Nektar Therapeutics (NKTR) at Hold
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Jefferies analyst Roger Song assumes coverage on Nektar Therapeutics (NASDAQ: NKTR) with a Hold rating and a price target of $4.00 (from $12.00).
The analyst commented, "Nektar has reprioritized two lead immunology/oncology programs. NKTR-358,an IL-2 Treg activator, has generated promising clinical data in systemic lupus erythematosus (SLE) and atopic dermatitis (AD). NKTR is partnering with LLY to advance to Ph2s, with data in ’23/’24. NKTR-255, an IL-15 agonist, is in Ph1s for cancers, with data updates in 2H22. In this long-term value, we see a path to rebuilding confidence post-BEMPEG setback. Assume at Hold & $4 PT"
Shares of Nektar Therapeutics closed at $3.54 yesterday.
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