Nektar Therapeutics (NASDAQ: NKTR) Stock Analysis: Jefferies Sets Ambitious Price Target Amidst Alopecia Drug Progress

• Jefferies analyst Roger Song has set a significant $150 price target for Nektar Therapeutics (NASDAQ: NKTR), indicating substantial potential upside for the biotech stock.
• Despite promising Phase IIb data for its alopecia treatment drug REZPEG, Nektar's stock experienced a notable decline on the day the target was posted.
• The company's REZPEG treatment, showing efficacy in hair regrowth, is also under development for atopic dermatitis and Type 1 diabetes.

Nektar Therapeutics (NASDAQ: NKTR) develops treatments that aim to change how the immune system works. On October 1, 2026, Jefferies analyst Roger Song set a $150 price target for Nektar. The stock traded at $46.99 when the target was posted, putting it $103.01 below the analyst’s target.

The target represents about 219% potential upside from $46.99. A price target is an analyst’s estimate, not a guaranteed future price. Nektar was down $13.56, or 22.39%, with shares trading between $46.29 and $56.49 that day.

The drop came despite data showing that patients maintained hair regrowth after treatment with Nektar’s alopecia drug ended, as highlighted by Barron’s. Nektar presented six-month results from a Phase IIb trial of the drug, called REZPEG. The trial enrolled 92 adults with severe to very severe alopecia areata.

Nektar selected a dose of 24 micrograms per kilogram every two weeks for a planned Phase III study. REZPEG is also in development for atopic dermatitis and Type 1 diabetes. The supplied report does not give a numerical hair-regrowth result, which limits how much the reported benefit can be assessed from that account alone. Nektar’s market value was approximately $1.35 billion, and about 6.11 million shares traded. Its share price ranged from $33.40 to $109.00 over the past year.