Nektar initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Nektar (NKTR) with an Overweight rating and $7 price target The analyst believes Nektar’s lead asset rezpegaldesleukin has a differentiated IL-2Ralpha mechanaism of action that selectively stimulates tregs. The firm has a high probability of success for rezpegaldesleukin, saying the Phase 1b atopic dermatitis trial demonstrated robust efficacy and safety and validated the utility of targeted treg stimulation.