10 Hottest SMID-Cap Stocks So Far In 2025

7. Nektar Therapeutics (NASDAQ:NKTR)

Sector/Industry: Healthcare/Biotechnology

YTD Total Returns: 295.1%

Market Cap: $1.1 Billion

Number of Hedge Fund Holders: 18

Nektar Therapeutics (NASDAQ:NKTR) is among the hottest SMID-cap stocks so far in 2025. On November 10, Oppenheimer analyst Jay Olson reaffirmed his Outperform rating on Nektar Therapeutics (NASDAQ:NKTR) and raised its price target to $98. His decision came after the company’s third-quarter update and the release of new clinical data. The analyst was encouraged by new insights from the Phase 2b REZOLVE-AD study, which were unveiled during a presentation at the American College of Allergy, Asthma, and Immunology (ACAAI) conference.

Olson noted that treatment with rezpeg resulted in significant improvements in ACQ-5 scores among patients with atopic dermatitis and a history of asthma. As a result, the new data further reinforces rezpeg’s unique therapeutic profile in the eczema space, as per the analyst.

Not only that, the analyst also notes that the favourable data from the December Phase 2 REZOLVE-AA trial targeting alopecia areata could prove to be a meaningful catalyst, as he believes this study has a “low bar for biologics in this untapped indication.”

The stock has appreciated by around 295% year-to-date, as of November 20. One of the most successful days during this period was June 24, when its share price skyrocketed by 156% after the company reported the successful Phase 2 REZOLVE-AD trial results for rezpegaldesleukin.

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company focused on discovering and developing innovative new medicines for cancer, autoimmune disease, and other chronic diseases.