Piper Sandler has reaffirmed its Overweight rating on Nektar Therapeutics (NASDAQ:NKTR) and set a price target of $105.00, reflecting a substantial premium to the recent share price of $36.40. The firm pointed to particularly strong induction data for REZPEG - Nektars experimental therapy for atopic dermatitis - as a key reason for sustained confidence as the company moves toward a maintenance topline readout expected in the first quarter of 2026.
The research note highlighted the companys financial position, noting a current ratio of 4.24 and concluding that Nektar has sufficient liquid resources to continue funding its clinical development programs. Piper Sandler emphasized that the durability of response in maintenance data will be a central focus when the results are released, with regulatory measures such as EASI-75 and Investigator Global Assessment (IGA) metrics included among the endpoints under scrutiny.
In its assessment, Piper Sandler referenced comparable outcomes as a baseline for success, stating that matching the efficacy profile reported for DUPIXENT - specifically 72% EASI-75 and 54% IGA 0/1 maintenance of response in DUPIXENTs studies - would constitute a clear positive result for REZPEG. The firm also addressed investor questions in detail, responding to 16 inquiries that examined trial design differences between maintenance and Phase 3 studies while maintaining a positive stance on the "substantial opportunity" the forthcoming data could represent.
Separate clinical news has kept Nektar in market focus. The companys Phase 2b trial for rezpegaldesleukin, an investigational treatment for alopecia areata, narrowly missed its primary endpoint; however, the trial data showed a treatment effect more than double that of placebo. That outcome prompted several analyst reactions and adjustments.
H.C. Wainwright increased its price target to $135, citing the potential importance of post-hoc analyses. Jefferies reiterated a Buy rating with a $121 price target, drawing attention to the trials favorable safety profile and the possibility the therapy could surpass existing treatment options. Oppenheimer raised its price target to $115, noting nominal statistical significance after excluding certain patient subsets from the analysis.
In addition to activity around Nektar, Terra Innovatum Global announced governance and compensation developments. The companys Remuneration Committee approved fixed annual compensation packages for Alessandro Petruzzi, Massimo Morichi, and Cesare Frepoli for the upcoming financial years, reflecting planned changes to director-level agreements.
Taken together, the analyst reiteration, ongoing clinical readouts, and corporate governance moves underline active strategic and operational developments for both companies referenced in the research notes and recent announcements.