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Why Nektar Therapeutics Stock Was Red-Hot Today

TheMotleyFool

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Why Nektar Therapeutics Stock Was Red-Hot Today: https://g.foolcdn.com/editorial/images/822957/person-in-a-lab-gazing-into-a-microscope.jpg

The latest biotech stock to explode in price, Nektar Therapeutics (NASDAQ: NKTR) was quite the outperformer on the stock exchange for the second day in a row. On Wednesday, one day after delivering excellent news from the lab, the company's shares leaped 19% higher on a significant analyst price target change.

Well before market open, H.C. Wainwright's Arthur He poured some rocket fuel into his Nektar price target, setting it anew at $120 per share. That's far above his previous level, which was a mere $6.50. In making the change, he left his buy recommendation intact.

Image source: Getty Images.

Source Fool.com