Oppenheimer upgraded Nektar (NKTR) to Outperform from Perform with a $6 price target The firm is refreshing its model ahead of the company’s rezpegaldesleukin in atopic dermatitis – AD – Phase 2B readout in June. The risk/benefit profile on the stock is favorable considering that Nektar is trading at negative enterprise value and at a deep discount compared to peers with Phase 2 AD assets, the analyst tells investors in a research note. Phase 1B data was promising, and rezpeg’s differentiated profile could deliver meaningful benefits in an expanding market, Oppenheimer added.
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