Why Nektar Therapeutics Stock Was Red-Hot Today

Motley Fool
06-26
  • An analyst tracking the stock made a drastic change to his price target.
  • This closely followed good news from the lab for the company.

The latest biotech stock to explode in price, Nektar Therapeutics (NKTR 19.10%) was quite the outperformer on the stock exchange for the second day in a row. On Wednesday, one day after delivering excellent news from the lab, the company's shares leaped 19% higher on a significant analyst price target change.

A clear buy, says analyst

Well before market open, H.C. Wainwright's Arthur He poured some rocket fuel into his Nektar price target, setting it anew at $120 per share. That's far above his previous level, which was a mere $6.50. In making the change, he left his buy recommendation intact.

Image source: Getty Images.

In what's hardly a surprising development, He's adjustment was due to the positive results in the latest completed clinical trial for Nektar's eczema drug rezpegaldesleukin. The study put the medicine through its paces for the treatment of moderate-to-severe atopic dermatitis (AD), a form of eczema. In the analyst's view, it did well enough to become a top drug in the treatment of the affliction.

On Tuesday, the biotech announced, no doubt with immense satisfaction, that rezpegaldesleukin met all of its primary and secondary endpoints in the phase 2b trial. After 16 weeks of treatment with the subcutaneous drug, patients demonstrated a 53% to 61% improvement in symptoms when measured with an eczema index. This compared very favorably to 31% for patients taking a placebo.

Vast potential

This easily makes Nektar's drug the success of the week in the biotech world. As pointed out by He, Rezpegaldesleukin clearly has potential to treat the many people who suffer from AD. As such, the progress of the drug -- and its developer -- will be exciting to watch going forward.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10