Update shared on 03 Nov 2025
Analysts have raised their price target for Nektar Therapeutics to $99, up from $69. This change is attributed to positive Phase 2b study results for rezpegaldesleukin and increased confidence in its commercial potential.
Analyst Commentary
Recent analyst reports have outlined a range of perspectives on Nektar Therapeutics, with ongoing developments in clinical data and litigation impacting sentiment and price targets. The company’s strong Phase 2b results and competitive positioning have been credited for the majority of the upward momentum among bullish analysts. Pending litigation and future data readouts shape caution in the short to medium term.
Bullish Takeaways- Recent successful Phase 2b data for rezpegaldesleukin has significantly increased confidence in its commercial and clinical potential, leading to higher valuation estimates.
- Positive patient-reported outcomes and efficacy signals in atopic dermatitis are seen as strengthening the outlook for eventual regulatory approval.
- Comparative data suggest rezpegaldesleukin may offer a differentiated profile over certain competitors in atopic dermatitis. This reinforces expectations around market share gains.
- Additional forthcoming data from multiple arms of the REZOLVE study, including maintenance and escape arms, are viewed as near-term catalysts for continued upside.
- Delays in the litigation process against a major competitor have added uncertainty. The outcome of legal proceedings remains a variable in future valuation.
- There is a wide variance in investor expectations regarding the impact of litigation and the commercialization timeline for rezpegaldesleukin.
- Some risk persists until longer-term efficacy and safety data are available from ongoing clinical trials. This may affect execution on pivotal milestones.
What's in the News
- A rumor regarding Nektar was highlighted in a Betaville alert. This led to a 12% increase in the share price to $61.34 on Friday afternoon (Betaville via The Fly).
- New data from the ongoing REZOLVE-AD Phase 2b study of rezpegaldesleukin has been accepted for a late-breaking oral abstract presentation at the 2025 ACAAI Annual Scientific Meeting.
- The FDA granted Fast Track designation for rezpegaldesleukin in February 2025 for the treatment of moderate-to-severe atopic dermatitis in both adults and pediatric patients.
- Nektar Therapeutics was added to the S&P Pharmaceuticals Select Industry Index.
- Nektar provided full-year 2025 earnings guidance, projecting $40 million in noncash royalty revenue and a $10 million noncash loss.
Valuation Changes
- Revenue Growth: The expected revenue growth rate has improved slightly, rising from -18.59% to -18.27%.
- Net Profit Margin: The projected net profit margin has increased marginally, moving from 22.05% to 22.06%.
- Future P/E: The estimated future price-to-earnings ratio has fallen moderately, decreasing from 294.73x to 291.10x.
- Discount Rate: The discount rate remains unchanged at 6.78%.
- Fair Value: The consensus fair value estimate remains stable at $93.86 per share.
Disclaimer
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