Nektar initiated with a Buy at B. Riley

B. Riley last night initiated coverage of Nektar (NKTR) with a Buy rating and $4 price target The firm views Nektar’s most advanced T regulatory cell targeting candidate, Rezpeg, as on the path to “being significantly de-risked” in ongoing Phase IIb trials in atopic dermatitis and alopecia areata, which are nearing enrollment completion. Rezpeg is well positioned to be a “key disrupter to the multi-decade AD innovation that is underway,” the analyst tells investors in a research note.