Mizuho Securities analyst Salim Syed maintained a Buy rating on Nkarta (NKTX – Research Report) on December 10 and set a price target of $9.00.
Salim Syed’s Buy rating for Nkarta’s stock is influenced by recent positive developments in the company’s clinical trials. Specifically, follow-up data from the American Society of Hematology (ASH) annual meeting showed encouraging results for NKX101, Nkarta’s investigational therapy for patients with relapsed or refractory acute myeloid leukemia (AML). The data demonstrated a sustained response rate with three out of the four patients maintaining complete response (CR) or complete response with incomplete hematologic recovery (CRi), which is particularly notable given the challenging nature of AML treatment.
Moreover, the safety profile of NKX101 remained clean, further validating the therapeutic potential of the treatment. While acknowledging that the dataset is still early and limited in size, Syed interprets these findings as incrementally positive. The response rate for NKX101 after Flu/Ara-C lymphodepletion continues to outperform previous data with Flu/Cy lymphodepletion, enhancing the drug’s profile. This continued clinical success provides a basis for Syed’s optimistic outlook on Nkarta’s stock, meriting a Buy rating from the analyst.
According to TipRanks, Syed is an analyst with an average return of -10.5% and a 36.32% success rate. Syed covers the Healthcare sector, focusing on stocks such as Cytokinetics, Crispr Therapeutics AG, and BridgeBio Pharma.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $15.00 price target.
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Nkarta (NKTX) Company Description:
Nkarta Inc is a bio-pharmaceutical company focused on the discovery, development and commercialization of engineered, allogeneic, and off-the-shelf cell therapies to treat cancer.
Read More on NKTX:
- Nkarta presents NKX101 clinical data at 2023 ASH Annual Meeting
- Nkarta Presents NKX101 Clinical Data at the 2023 American Society of Hematology Annual Meeting & Exposition
- Nkarta price target lowered to $9 from $15 at Mizuho
- Nkarta price target lowered to $11 from $15 at Stifel
- Nkarta reports Q3 EPS (52c), consensus (67c)
