Citi Initiates Coverage on Nektar with Buy Rating, Launches 'Positive Catalyst Watch'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 26 2025
0mins
Should l Buy NKTR?
Citi's Coverage Initiation: Citi has initiated coverage of Nektar with a Buy rating and a price target of $102.
Positive Catalyst Watch: The firm has placed Nektar on a "positive 90-day catalyst watch" in anticipation of Phase 2b alopecia areata data expected in December.
Competitive Data Outlook: Citi believes that the data for rezpegaldesleukin in atopic dermatitis appears competitive within a crowded market.
Investment Opportunity: The firm sees an "asymmetrical upside" opportunity for Nektar's shares leading up to the December data readout.
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Analyst Views on NKTR
Wall Street analysts forecast NKTR stock price to rise
8 Analyst Rating
8 Buy
0 Hold
0 Sell
Strong Buy
Current: 65.900
Low
102.00
Averages
123.43
High
165.00
Current: 65.900
Low
102.00
Averages
123.43
High
165.00
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.
Nektar Therapeutics to Announce Q4 and Year-End 2025 Financial Results
- Earnings Announcement Schedule: Nektar Therapeutics will release its financial results for Q4 and the full year of 2025 on March 12, 2026, after U.S. market close, reflecting the company's commitment to transparency.
- Conference Call Details: CEO Howard Robin will host a conference call at 5:00 PM ET to review the financial results, aiming to bolster investor confidence through detailed insights.
- Webcast Availability: The conference call will be accessible via a live audio-only webcast on Nektar's website, with replay available until April 12, 2026, ensuring investors can access critical information at their convenience.
- Company Overview: Nektar Therapeutics focuses on developing treatments for autoimmune and chronic inflammatory diseases, with multiple clinical trials underway, showcasing its innovative potential in the biotechnology sector.
See More
Nektar Therapeutics to Announce Q4 and Year-End 2025 Financial Results
- Earnings Announcement Schedule: Nektar Therapeutics will release its financial results for Q4 and the full year 2025 on March 12, 2026, after U.S. market close, reflecting the company's commitment to transparency and investor communication.
- Conference Call Details: CEO Howard Robin will host a conference call at 5:00 PM ET to provide a detailed review of the financial results, aiming to bolster investor confidence in the company's future prospects.
- Product Development Progress: Nektar's lead candidate, rezpegaldesleukin, is undergoing multiple clinical trials for conditions like atopic dermatitis and Type 1 diabetes, indicating ongoing innovation in treating autoimmune and chronic inflammatory diseases.
- Diversity in Clinical Trials: Nektar is also evaluating various novel therapies, including NKTR-255, showcasing its potential in cancer immunotherapy, which could drive future growth for the company.
See More
Nektar Therapeutics to Participate in Health Conferences
- Conference Participation: Nektar Therapeutics will participate in the TD Cowen 46th Annual Health Care Conference from March 2-4, 2026, in Boston, showcasing its latest advancements in immunology, which is expected to attract investor interest.
- Lead Product Candidate: Nektar's lead candidate, rezpegaldesleukin (REZPEG), is undergoing multiple Phase 2b clinical trials for atopic dermatitis and alopecia areata, and successful progress will enhance the company's market position in the biotechnology sector.
- Clinical Trial Developments: Nektar is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's ability to fight cancer, and positive results could further enrich its product pipeline.
- Investor Relations: The company provides a webcast link for investors to view the conference content, with a 30-day replay available, demonstrating Nektar's commitment to transparency and investor communication.
See More
Alopecia Areata Market Poised for Significant Growth
- Market Growth: The alopecia areata treatment market is expected to see significant growth by 2036, with 1.7 million diagnosed cases projected in the 7MM by 2025, indicating strong market demand.
- Emerging Therapies: The launch of new therapies such as RINVOQ and Bempikibart is set to intensify competition, with promising clinical trial results suggesting they could transform the current treatment landscape.
- Impact of JAK Inhibitors: The approval of JAK inhibitors like OLUMIANT and LITFULO provides new treatment options, with clinical trials demonstrating significant efficacy in promoting hair regrowth, attracting increased payer interest.
- Expanding Patient Pool: With an estimated 620,000 diagnosed cases in the U.S. by 2024, the expanding patient population is expected to drive market demand, prompting pharmaceutical companies to invest more in the development of new therapies.
See More
Atopic Dermatitis Market Growth Insights
- Market Size Growth: The atopic dermatitis treatment market is expected to continue growing positively by 2034, with the United States holding the largest market share, reflecting strong demand for new therapies that drive overall market expansion.
- Introduction of New Therapies: The launch of new therapies such as Rocatinlimab and Amlitelimab is anticipated to transform the market landscape by providing more effective treatment options to meet the increasing patient demand.
- Rising Patient Numbers: In 2024, approximately 53 million diagnosed cases of atopic dermatitis are expected in the 7MM, with the increase in patient numbers directly fueling the demand for advanced treatment options and promoting market growth.
- Changing Competitive Landscape: As new drugs undergo clinical trials and enter the market, competition will intensify, particularly with companies like Eli Lilly leveraging their product portfolios to capture significant market share in the EU4 and Japan, showcasing strong market potential.
See More
Nektar Therapeutics Closes $460 Million Public Offering
- Significant Fundraising: Nektar Therapeutics successfully closed a $460 million public offering, selling 7,637,931 shares of common stock, which demonstrates strong market demand for its innovative therapies and enhances the company's financial capacity to support R&D.
- Pricing and Subscription Details: Common stock was sold at $58.00 per share, while pre-funded warrants were priced at $57.9999 each, reflecting investor confidence in Nektar's future products, which may drive stock price appreciation.
- Strong Underwriter Lineup: With Jefferies, TD Cowen, and Piper Sandler acting as joint bookrunning managers, this indicates market recognition of Nektar, enhancing its reputation and influence in the biotechnology sector.
- Effective Registration Statement: The offering was conducted under an effective S-3ASR registration statement, ensuring compliance and transparency, which further boosts investor confidence and may attract more institutional investors for future financing.
See More
Nektar Therapeutics to Announce Q4 and Year-End 2025 Financial Results
- Earnings Announcement Schedule: Nektar Therapeutics will release its financial results for Q4 and the full year of 2025 on March 12, 2026, after U.S. market close, reflecting the company's commitment to transparency.
- Conference Call Details: CEO Howard Robin will host a conference call at 5:00 PM ET to review the financial results, aiming to bolster investor confidence through detailed insights.
- Webcast Availability: The conference call will be accessible via a live audio-only webcast on Nektar's website, with replay available until April 12, 2026, ensuring investors can access critical information at their convenience.
- Company Overview: Nektar Therapeutics focuses on developing treatments for autoimmune and chronic inflammatory diseases, with multiple clinical trials underway, showcasing its innovative potential in the biotechnology sector.
See More
Nektar Therapeutics to Announce Q4 and Year-End 2025 Financial Results
- Earnings Announcement Schedule: Nektar Therapeutics will release its financial results for Q4 and the full year 2025 on March 12, 2026, after U.S. market close, reflecting the company's commitment to transparency and investor communication.
- Conference Call Details: CEO Howard Robin will host a conference call at 5:00 PM ET to provide a detailed review of the financial results, aiming to bolster investor confidence in the company's future prospects.
- Product Development Progress: Nektar's lead candidate, rezpegaldesleukin, is undergoing multiple clinical trials for conditions like atopic dermatitis and Type 1 diabetes, indicating ongoing innovation in treating autoimmune and chronic inflammatory diseases.
- Diversity in Clinical Trials: Nektar is also evaluating various novel therapies, including NKTR-255, showcasing its potential in cancer immunotherapy, which could drive future growth for the company.
See More
Nektar Therapeutics to Participate in Health Conferences
- Conference Participation: Nektar Therapeutics will participate in the TD Cowen 46th Annual Health Care Conference from March 2-4, 2026, in Boston, showcasing its latest advancements in immunology, which is expected to attract investor interest.
- Lead Product Candidate: Nektar's lead candidate, rezpegaldesleukin (REZPEG), is undergoing multiple Phase 2b clinical trials for atopic dermatitis and alopecia areata, and successful progress will enhance the company's market position in the biotechnology sector.
- Clinical Trial Developments: Nektar is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's ability to fight cancer, and positive results could further enrich its product pipeline.
- Investor Relations: The company provides a webcast link for investors to view the conference content, with a 30-day replay available, demonstrating Nektar's commitment to transparency and investor communication.
See More
Alopecia Areata Market Poised for Significant Growth
- Market Growth: The alopecia areata treatment market is expected to see significant growth by 2036, with 1.7 million diagnosed cases projected in the 7MM by 2025, indicating strong market demand.
- Emerging Therapies: The launch of new therapies such as RINVOQ and Bempikibart is set to intensify competition, with promising clinical trial results suggesting they could transform the current treatment landscape.
- Impact of JAK Inhibitors: The approval of JAK inhibitors like OLUMIANT and LITFULO provides new treatment options, with clinical trials demonstrating significant efficacy in promoting hair regrowth, attracting increased payer interest.
- Expanding Patient Pool: With an estimated 620,000 diagnosed cases in the U.S. by 2024, the expanding patient population is expected to drive market demand, prompting pharmaceutical companies to invest more in the development of new therapies.
See More
Atopic Dermatitis Market Growth Insights
- Market Size Growth: The atopic dermatitis treatment market is expected to continue growing positively by 2034, with the United States holding the largest market share, reflecting strong demand for new therapies that drive overall market expansion.
- Introduction of New Therapies: The launch of new therapies such as Rocatinlimab and Amlitelimab is anticipated to transform the market landscape by providing more effective treatment options to meet the increasing patient demand.
- Rising Patient Numbers: In 2024, approximately 53 million diagnosed cases of atopic dermatitis are expected in the 7MM, with the increase in patient numbers directly fueling the demand for advanced treatment options and promoting market growth.
- Changing Competitive Landscape: As new drugs undergo clinical trials and enter the market, competition will intensify, particularly with companies like Eli Lilly leveraging their product portfolios to capture significant market share in the EU4 and Japan, showcasing strong market potential.
See More
Nektar Therapeutics Closes $460 Million Public Offering
- Significant Fundraising: Nektar Therapeutics successfully closed a $460 million public offering, selling 7,637,931 shares of common stock, which demonstrates strong market demand for its innovative therapies and enhances the company's financial capacity to support R&D.
- Pricing and Subscription Details: Common stock was sold at $58.00 per share, while pre-funded warrants were priced at $57.9999 each, reflecting investor confidence in Nektar's future products, which may drive stock price appreciation.
- Strong Underwriter Lineup: With Jefferies, TD Cowen, and Piper Sandler acting as joint bookrunning managers, this indicates market recognition of Nektar, enhancing its reputation and influence in the biotechnology sector.
- Effective Registration Statement: The offering was conducted under an effective S-3ASR registration statement, ensuring compliance and transparency, which further boosts investor confidence and may attract more institutional investors for future financing.
See More
