Nektar price target raised to $44 from $27 at JPMorgan JPMorgan analyst Jessica Fye raised her price target for Nektar Therapeutics to $44 saying she views the company's STIC data as a "win" given the "encouraging response rates" in both PD-L1 positive and negative patients. The analyst sees increased potential for Nektar to access the large lung market and raised her probability of success to 45% and peak sales for NKTR-214 to $4B. Fye keeps an Overweight rating on Nektar.
NKTR—18 patients are already enrolled (at MSKCC and MD Anderson) in the IST testing Opdivo + NKTR-214 in second-line sarcomas, an area with a very high unmet need. (Slide #63 from the SITC slide deck says “proposed phase-2 study,” but the trial has already started, according to the webcast narrative.)
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