Nektar Therapeutics Stock Extends Record Rally on Clinical Breakthrough

Shares of Nektar Therapeutics surged to unprecedented heights this week, reaching a new 52-week peak of $61.24 before settling at $60.50 at yesterday’s close. The biopharmaceutical company registered a solid 2.80% daily gain, extending its remarkable upward trajectory driven by encouraging clinical trial outcomes and reinforced analyst confidence.

Market Experts Boost Price Projections

Financial institutions have responded to recent developments with upgraded assessments. Jefferies maintained its Buy recommendation while raising its price target to $99. Concurrently, Piper Sandler reaffirmed its Overweight stance with a $105 valuation objective. This follows B. Riley Securities’ late-September projection of $105.00. The consensus among research firms remains unanimously positive, with all recommending acquisition of the stock.

The company’s investigational drug, rezpegaldesleukin, received Fast Track designation from the FDA in July 2025 for severe alopecia areata, underscoring regulatory recognition of its therapeutic potential.

Should investors sell immediately? Or is it worth buying Nektar Therapeutics?

Dermatology Trial Demonstrates Significant Efficacy

The current market enthusiasm stems from compelling results from the REZOLVE-AD Phase 2b clinical study evaluating patients with moderate-to-severe atopic dermatitis. Trial data revealed statistically significant outcomes on the primary endpoint, with the high-dose cohort achieving a 61% improvement on the Eczema Area and Severity Index scale compared to just 31% in the placebo group. All secondary endpoints also met their statistical criteria, confirming comprehensive treatment benefits.

Future Catalysts and Growth Trajectory

With the stock already boasting an extraordinary 200% year-to-date appreciation, attention now turns to upcoming developmental milestones. December 2025 will bring Phase 2b results for alopecia areata, followed by 52-week REZOLVE-AD data in early 2026.

Analyst price targets ranging from $91.67 to $104.50 suggest substantial upside potential from current trading levels. The convergence of positive clinical readouts and strengthened analyst convictions indicates the momentum may have further room to run as these catalysts approach.