Pgiam/iStock by way of Getty Photographs
Enkata (NASDAQ:NKTXThe transfer comes after Raymond James upgraded the cell remedy developer to Robust Purchase from Outperform on Wednesday, citing a compelling valuation set after the corporate reported quarterly outcomes. The corporate’s inventory value soared earlier than the market opened on Wednesday.
The California-based biotech firm launched its second-quarter 2024 monetary outcomes on Tuesday The corporate stated it’ll obtain a money runway by the top of 2027, which can assist the corporate take care of “quite a few de-risking catalysts,” stated Ray Jay analyst Laura Prendergast.
Moreover, analysts notice that Nkarta (NKTX) trades at a reduction to money and traders have but to understand its lead product candidate, NKX019, an NK cell remedy in scientific trials for autoimmune illnesses.
Prendergast famous that NK cell remedy has a number of benefits over T cell remedy, together with these associated to security and dosing. The analyst wrote that these options may give NKTX “an edge towards the enrollment headwinds dealing with the house,” and stored his $16 goal on the inventory unchanged.
