Nektar Therapeutics (NKTR)

Jun 28, 2021Trade Ideas

Oversold at support, Nektar Therapeutics (NKTR) could see near-term upside.

Just this morning. analysts at Stifel upgraded the NKTR stock to a buy rating on bullishness on Bempeg for lung cancer.

According to The Fly, “Stifel analyst Benjamin Burnett upgraded Nektar to Buy from Hold with a price target of $24, up from $22. He has become more bullish on bempeg’s prospects in lung cancer and bempeg’s ability to increase PD-L1 expression in NSCLC patients. He also thinks skepticism into the melanoma phase-3 interim analysis, as indicated by the stock trading near relative lows with a 10% of float short interest, has created an overhang that is causing some to overlook a more near-term event for bempeg in NSCLC.”

When it comes to biotech stocks, we simply want to trade the anticipatory momentum ahead of results. In fact, as we near the “near-term event,” we may see a rise in the stock price on investor excitement`. By the day of the catalyst event, we want to be out prior to a potential sell the news reaction.

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