Following the release of Nektar Therapeutics’ (NASDAQ: NKTR) first-quarter results, Aegis Capital reiterated its ‘Buy’ rating and price target of $27 on shares of the company’s stock. Though Nektar’s first-quarter revenue of $24.7 million fell short of the consensus of $30.9 million, the Aegis analyst noted the company’s multiple product candidates awaiting approval and potential upcoming product launches as the area of focus. Additionally, Nektar recently reported positive top-line data for the phase 3 Summit-07 trial evaluating NKTR-181 in chronic lower back pain. Readout for the ongoing pivotal trial is anticipated in mid-summer 2017.
For more information, visit www.nektar.com
About Nektar Therapeutics
Nektar Therapeutics is a research-based development stage biopharmaceutical company whose mission is to discover and develop innovative medicines to address the unmet medical needs of patients. The company’s R&D pipeline of new investigational medicines includes treatments for cancer, auto-immune disease and chronic pain. Nektar leverages its proprietary and proven chemistry platform in the discovery and design of new therapeutic candidates. Nektar is headquartered in San Francisco, California, with additional operations in Huntsville, Alabama and Hyderabad, India.
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