Nektar positive catalyst seen early June: Piper

Piper expects positive oral presentation from Nektar in early June. Piper Jaffray analyst Tyler Van Buren believes next Wednesday’s ASCO abstract for Nektar’s Phase I/II Pivot study of NKTR-214 in combination with nivolumab will be one of the most highly anticipated abstracts of the conference. The analyst notes, however, that the abstract will be from a February data cut while the oral presentation in early June will be from a data cut later this month. As such, the oral presentation will contain “significantly more mature data and should ultimately be relied on to make conclusions about the anti-tumor activity,” Van Buren tells investors in a research note. He believes the oral presentation will be positive and keeps an Overweight rating on Nektar Therapeutics with a $125 price target following the company’s Q1 results.

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