The rise of Nektar Therapeutics stock
Last month, Nektar Therapeutics (NKTR) stock rose 25.7%, from $84.55 on March 1, 2018, to $106.26 on March 29, 2018. That made it the highest pharmaceutical gainer last month among all pharmaceutical companies trading on the US stock exchange with market capitalizations greater than $2 billion. On April 4, 2018, the company was trading 588% above its 52-week low of $17.33 and 8.5% lower than its 52-week high of $111.36.
According to reports, Nektar Therapeutics has risen 78%, proving to be the best-performing stock in the S&P 500 in 1Q18. Since November 2017, the company has been on an upward trajectory, mainly due to positive results from the dose-escalation phase of the PIVOT-02 Phase 1/2 expansion study designed to evaluate the efficacy and safety of Nektar Therapeutics’ NKTR-214 in combination with Bristol-Myers Squibb’s (BMY) Opdivo in patients suffering with non-small cell lung cancer, renal cell carcinoma, and stage 4 melanoma. To know more about Nektar Therapeutics’ product pipeline, please refer to Nektar Therapeutics’ Interesting Product Pipeline.
Nektar Therapeutics stock has also benefited from news that the company is exploring options for a potential sale.
Analyst recommendations in April
Of the nine analysts tracking Nektar Therapeutics in April 2018, four have recommended a “strong buy” for the stock, four have recommended a “buy,” and one has recommended a “hold.” On April 4, 2018, the company had a consensus 12-month target price of $95.75, which is 3.6% below its current stock price.