** Nektar Therapeutics NKTR.O shares up 14.9% to $64.33, over two-month high on Weds, adding to big gain in prior session after its eczema drug showed promise

** NKTR shares surged 51% on Tues after co earlier in the day said rezpegaldesleukin showed year-long benefit

** After the bell Tues, NKTR commenced $300 mln offering consisting of stock and pre-funded warrants in part to fund Phase 3 trials for rezpegaldesleukin

** Jefferies, TD Cowen and Piper Sandler joint bookrunners

** BTIG on Tues said after the data NKTR remains one of its 1H26 top picks and hiked its PT from $118 to $151

** 7 of 8 analysts rate stock "strong buy" or "buy", 1 "hold"; median PT $115, per LSEG data

** With the move on Weds, NKTR shares up more than six-fold over the past 12 months

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))