Strong REZOLVE-AA Study Results Drive Analyst Confidence in Nektar Therapeutics (NKTR)

With strong 1-year returns and upside potential, Nektar Therapeutics (NASDAQ:NKTR) secures a spot on our list of the 12 best multibagger stocks to buy heading into 2026.

Strong REZOLVE-AA Study Results Drive Analyst Confidence in Nektar Therapeutics (NKTR)

Nektar Therapeutics experienced a boost in analyst sentiment on December 16, 2025, following strong topline results from the 36-week induction period of the Phase 2b REZOLVE-AA study.

The trial narrowly missed its primary endpoint; however, Oppenheimer highlighted that omitting four patients with eligibility violations yielded nominal statistical significance. Seeing compelling activity for rezpegaldesleukin, the firm raised the probability of success for the indication to 50%. Accordingly, the bank increased its price target on Nektar Therapeutics from $98 to $115, while maintaining an “Outperform” rating, according to The Fly.

Meanwhile, H.C. Wainwright also expressed optimism the same day, raising its price target from $120 to $135 on Nektar Therapeutics with a “Buy” rating. Citing the topline results as encouraging, the firm raised its probability of rezpegaldesleukin launch for alopecia areata to 25%. H.C. Wainwright projects risk-adjusted revenues of $59 million in 2030, expecting it to grow to $380 million by 2035.

With 92 patients enrolled, the REZOLVE-AA trial saw both dose arms more than double the hair regrowth treatment effect compared to placebo. Meanwhile, patients demonstrating growth but not yet reaching SALT > 20 could continue in a blinded 16-week extension. The study showed consistency in terms of safety, reporting mostly mild-to-moderate adverse events and low discontinuation rates. The results not only reinforce proof-of-concept for rezpegaldesleukin in alopecia areata but also expand the drug’s clinical and commercial potential.

Nektar Therapeutics, a clinical-stage biotechnology company, develops immunology-based therapies. These therapies, led by rezpegaldesleukin, aim at treating autoimmune and chronic inflammatory diseases through targeted regulatory T-cell modulation.

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