Nektar initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Arthur He initiated coverage of Nektar (NKTR) with a Buy rating and $6.50 price target Nektar is a clinical-stage biopharmaceutical company focused on developing innovative medicines that selectively modulate the immune system to address autoimmune diseases with its “deep knowledge and expertise” in immunology and polymer chemistry, the analyst tells investors in a research note. The firm believes Nektar’s lead drug rezpegaldesleukin is a potential best-in-class Treg agonist that could restore immune homeostasis for the treatment of a variety of autoimmune disorders. It currently projects the company to generate risk-adjusted revenues of $947M in 2035, growing from $85M in 2029.