Nektar price target raised to $80 after NKTR-214 update at Canaccord. Canaccord analyst Arlinda Lee raised her price target on Nektar Therapeutics to $80 from $50 after the company provided an update on the full Phase 1 PIVOT-2 dose-escalation results that were previously presented at a cancer meeting in November.
Lee, who views the update as solidifying the central positioning for NKTR-214, increased her probability of success for the drug candidate in a number of potential indications following the new data.
The analyst expects meaningful clinical data presentations for the NKTR-214-Opdivo combo this year, including at the ASCO meeting in June, she added. Lee maintains a Buy rating on Nektar shares, which advanced about 18% yesterday and are up a further 3% this morning.
Yeah, I don't think you can get overly broad use with intratumoral injection.
One thing that's a bit interesting is that nektar is heavily into the biased agonist approach. This is the general method that I generally thought / think is a bit too dependent on experimental conditions you can invoke in the lab. It's why I was negative about Trevena's CV program.
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