Canaccord lowered the firm’s price target on Nkarta to $15 from $25 and keeps a Buy rating on the shares. The headline of Nkarta’s business update is the new drug clearance for NKX019 for lupus nephritis, which is overshadowing “disappointing news” on the NKX019 program in relapsed/refractory non-Hodgkin lymphoma, the analyst tells investors in a research note. The firm does not model autoimmune disease as a standalone indication yet but believes the program makes sense for Nkarta.
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Read More on NKTX:
- Nkarta price target lowered to $10 from $16 at H.C. Wainwright
- Nkarta upgraded to Strong Buy from Outperform at Raymond James
- Nkarta Receives FDA Clearance of IND Application for NKX019 in Lupus Nephritis
- Nkarta opens new cohort in Phase 1 study of NKX019
- Nkarta announces cost containment measures to extend cash runway