Mizuho Securities Believes Nektar Therapeutics (NASDAQ: NKTR) Won’t Stop Here

By Ryan Adsit

Mizuho Securities analyst Difei Yang assigned a Buy rating to Nektar Therapeutics (NASDAQ: NKTR) today. The company’s shares closed on Friday at $32.50, close to its 52-week high of $33.67.

Yang wrote:

“We believe raising our PT from $30 to $45 more accurately reflects conservative assumptions surrounding the value add of NKTR-214 within US- based NSCLC patients. Going forward, we believe NKTR-214 will remain a major value driver for the company.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 14.6% and a 51.5% success rate. Yang covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Fennec Pharmaceuticals Inc, and Spectrum Pharmaceuticals.

Currently, the analyst consensus on Nektar Therapeutics is Strong Buy and the average price target is $34.17, representing a 5.1% upside.

In a report issued on November 8, Jefferies also reiterated a Buy rating on the stock with a $35 price target.

Based on Nektar Therapeutics’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $153 million and quarterly net profit of $60.87 million. In comparison, last year the company earned revenue of $36.34 million and had a GAAP net loss of $43.22 million.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NKTR in relation to earlier this year.

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Nektar Therapeutics is a clinical-stage biopharmaceutical company, which engages in developing drug candidates that utilize its PEGylation and polymer conjugate technology platforms. Its products contain drug candidates of therapeutic areas, including oncology, pain, anti-infectives, anti-viral, and immunology.