Street Calls of the Week
Investing.com - Piper Sandler has reiterated an Overweight rating and $105.00 price target on Nektar Therapeutics (NASDAQ:NKTR), which is currently trading near its 52-week high at $48.68, having surged over 260% in the past six months. According to InvestingPro data, analyst targets range from $69 to $120, reflecting strong upside potential ahead of key clinical data expected later next year.
The firm’s analysis focuses on the upcoming progression-free survival data from the HERIZON-GEA-01 study, which is evaluating Jazz’s zanidatamab in first-line advanced/metastatic gastroesophageal adenocarcinoma, expected in the fourth quarter of 2025.
Piper Sandler recently hosted a webinar featuring a leading oncologist who manages numerous gastroesophageal adenocarcinoma patients to discuss what would constitute a successful outcome for zanidatamab in the study.
The discussion centered on potential progression-free survival and overall survival benefits compared to trastuzumab (Herceptin), and the implications for clinical adoption if positive results are achieved.
According to Piper Sandler, the key opinion leader expressed confidence in zanidatamab demonstrating clear benefits relative to trastuzumab, suggesting significant commercial potential for the product.
In other recent news, Nektar Therapeutics reported a significant earnings miss for the second quarter of 2025, with earnings per share coming in at -$2.78, far below the forecasted -$0.20. This represented a surprising 1,290% deviation from expectations. However, the company’s revenue exceeded forecasts, reaching $11.17 million compared to the anticipated $9.74 million. In other developments, Nektar Therapeutics saw a surge in its stock following disappointing clinical trial results from rival Sanofi’s amlitelimab treatment for atopic dermatitis. Sanofi’s data, despite meeting primary and secondary endpoints, did not meet efficacy expectations, which appeared to bolster Nektar’s competitive positioning in the market. Piper Sandler analyst Yasmeen Rahimi maintained an overweight rating on Nektar, citing the underwhelming efficacy of Sanofi’s treatment as a positive indicator for Nektar’s drug REZPEG. Rahimi emphasized REZPEG’s differentiated profile and commercial potential across inflammatory diseases. These recent developments have contributed to a positive outlook for Nektar in a competitive market landscape.
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