Nektar Therapeutics (NKTR) experienced a significant decline of 13.70%, hitting a 20-day low amid a broader market downturn, with the Nasdaq-100 down 0.37% and the S&P 500 down 0.22%.
This drop comes despite the company's recent announcement of significant efficacy results from the REZOLVE-AA trial for Rezpegaldesleukin, which showed promising outcomes for treating alopecia areata. However, the stock's performance reflects sector rotation as investors react to the overall market conditions rather than the positive trial results.
The implications of this price movement suggest that while Nektar's clinical advancements are noteworthy, the current market sentiment is heavily influencing stock performance, leading to a disconnect between the company's potential and its market valuation.
Wall Street analysts forecast NKTR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NKTR is 103.71 USD with a low forecast of 30.00 USD and a high forecast of 135.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
Wall Street analysts forecast NKTR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NKTR is 103.71 USD with a low forecast of 30.00 USD and a high forecast of 135.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Buy
1 Hold
1 Sell
Moderate Buy
Current: 35.230
Low
30.00
Averages
103.71
High
135.00
Current: 35.230
Low
30.00
Averages
103.71
High
135.00
Oppenheimer
Jay Olson
Outperform
maintain
$98 -> $115
2025-12-16
Reason
Oppenheimer
Jay Olson
Price Target
$98 -> $115
AI Analysis
2025-12-16
maintain
Outperform
Reason
Oppenheimer analyst Jay Olson raised the firm's price target on Nektar to $115 from $98 and keeps an Outperform rating on the shares after the company provided updates on the results from its Phase 2b REZOLVE-AA study evaluating rezpeg in alopecia areata. While the study missed the primary endpoint "by a whisker," excluding four patients with eligibility violations suggests a nominal statistical significance for both doses, the analyst tells investors in a research note. Oppenheimer sees "compelling activity" for rezpeg in alopecia areata. It upped the probability of success for the indication to 50%. Nektar in morning trading is down 8% to $48.88.
H.C. Wainwright
H.C. Wainwright
Buy
maintain
$120 -> $135
2025-12-16
Reason
H.C. Wainwright
H.C. Wainwright
Price Target
$120 -> $135
2025-12-16
maintain
Buy
Reason
H.C. Wainwright raised the firm's price target on Nektar to $135 from $120 and keeps a Buy rating on the shares after the company reported "encouraging" topline results from the 36-week induction phase of its Phase 2b REZOLVE-AA study of rezpeg in alopecia areata. Following the data, the firm is increasing its view of the odds of launch for rezpeg in AA to 25%, from 20%, and it projects the drug to generate risk-adjusted revenues of $59M in 2030, growing to $380M by 2035.
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Citi
NULL
to
Buy
initiated
$102
2025-11-26
Reason
Citi
Price Target
$102
2025-11-26
initiated
NULL
to
Buy
Reason
Citi initiated coverage of Nektar with a Buy rating and $102 price target. Citi also opened a "positive 90-day catalyst watch" on Nektar ahead of the Phase 2b alopecia areata data expected in December. The firm believes data for rezpegaldesleukin in atopic dermatitis "look competitive" in crowded field. It sees an "asymmetrical upside" opportunity for the shares into the December readout.
Jefferies
Buy
upgrade
$99 -> $121
2025-11-26
Reason
Jefferies
Price Target
$99 -> $121
2025-11-26
upgrade
Buy
Reason
Jefferies raised the firm's price target on Nektar to $121 from $99 and keeps a Buy rating on the shares. With "relatively low expectations" going into Nektar's Rezpeg reporting Phase 2b topline data in Alopecia Areata in December, the firm sees "significant upside potential and limited downside" given Rezpeg's novel mechanism of action, clean safety profile and durability potential, the analyst tells investors. The firm is adding AA to its model with 20% odds of success and about $300M in estimated peak sales.
About NKTR
Nektar Therapeutics is a clinical-stage biotechnology company. It is focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. In oncology, it is focused on developing medicines based on targeting biological pathways that stimulate and sustain the body’s immune response to fight cancer. Its lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel regulatory T cell stimulator being evaluated in two Phase IIb clinical trials, one in atopic dermatitis and one in alopecia areata. Its pipeline also includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422. It is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's natural ability to fight cancer, in several ongoing clinical trials.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
