William Blair analyst Sami Corwin has maintained their bullish stance on NKTX stock, giving a Buy rating yesterday.
Sami Corwin has given Nkarta’s stock (NKTX) a Buy rating due to a collection of compelling factors, particularly the promising preclinical data surrounding their CD19-targeted CAR-NK therapy, NKX019, and its effectiveness in autoimmune disease models. The therapy showed notable ability in vitro to eliminate B-cells from patients with various autoimmune diseases, including systemic lupus erythematosus, indicating a potential for significant impact in treatment outcomes. This preclinical success, alongside the FDA’s IND clearance for a Phase I study in lupus nephritis, positions Nkarta as a strong player in the development of innovative treatments for autoimmune conditions.
Moreover, the optimistic outlook is bolstered by Nkarta’s strategic decision not to include Fludarabine in their lymphodepletion regimen for NKX019, which may lead to improved patient accessibility and tolerability compared to other CAR cell therapies. Corwin also cites the favorable safety profile observed in NKX019’s development thus far and the potential for a shorter duration of B-cell aplasia as key advantages over competing CAR-T cell therapies. The anticipation of further updates on NKX019, coupled with ongoing trials of NKX101, reinforces the belief that Nkarta’s diversified approach in the CAR cell therapy space warrants a Buy rating for its stock.
In another report released yesterday, Needham also reiterated 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)
