Mizuho analyst Mara Goldstein keeps a Neutral rating on Nektar Therapeutics (NKTR) with a $6 price target after the company said efficacy data previously generated by Eli Lilly (LLY) for rezpegaldesleukin that were presented at the September 2022 EADV Congress were incorrectly calculated by Lilly. The discovery of an error suggests rezpegaldesleukin could have a clinical and commercial path forward, the analyst tells investors in a research note. Nektar shares are trading well below cash, says the firm, which sees an opportunity to revisit the potential of rezpegaldesleukin in atopic dermatitis. Mizuho views this morning’s news as positive for Nektar.
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