Nektar raised to ‘Hold’ from ‘Sell’ at CFRA on encouraging clinical data

 

• Upgrading its view to ‘Hold’ from ‘Sell’, CFRA Research weighs in on Nektar Therapeutics (NASDAQ:NKTR), the clinical-stage biotech, which released promising preclinical data last week for the NKTR-255 at the 62nd American Society of Hematology Annual Meeting.
• The interleukin-15 (IL-15) receptor agonist is currently undergoing multiple clinical studies in both hematological and solid tumors, including a Phase 1/2 trial against relapsed or refractory head and neck squamous cell carcinoma or colorectal cancer, the initiation of which was announced yesterday, propelling the shares +4.5%. 
• The analyst, Sel Hardy, writes, ‘the first clinical data for NKTR-255 presented last week has been encouraging’ noting ‘it will take time to get conclusive results from the study.’
• However, the 12-month price target is set at $18, adding ‘we do not see any major financial implications materializing soon.’
• https://seekingalpha.com/news/3644987-nektar-therapeutics-raised-to-hold-from-sell-cfra-on-encouraging-clinical-data