Gil Blum, an analyst from Needham, reiterated the Buy rating on Nkarta (NKTX – Research Report). The associated price target is $15.00.
Gil Blum has assigned a Buy rating to Nkarta’s stock based on a collection of encouraging factors. The company’s latest corporate deck revealed promising data on patients who were redosed with NKX019 after initially responding and then progressing. Remarkably, all four of these patients achieved complete responses (CRs), underscoring the therapy’s sustained efficacy in attacking malignant B-cells in individuals with aggressive forms of diffuse large B-cell lymphoma (DLBCL). This points to the potential benefits of a more compressed dosing regimen, which may lead to deeper and more durable disease eradication, ultimately resulting in longer periods of remission.
Furthermore, Blum highlights the preclinical results that showcase NKX019’s effectiveness in eliminating B-cells across blood samples from patients with various autoimmune disorders. This efficacy mirrors the B-cell ablation seen in previous studies involving B-cell lymphoma (BCL) patients and suggests a broader therapeutic impact of the treatment. These developments, combined with the anticipation of further clinical updates expected in mid-2024, particularly regarding dose compression outcomes, underpin Blum’s optimism. Consequently, Blum reiterates a Buy rating with a $15 price target, reflecting a positive outlook on Nkarta’s clinical advancements and potential market impact.
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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)
