Nektar is reaching fair value

NASDAQ:NKTR   Nektar Therapeutics
Nektar and Bristol-Myers Squibb announced today the companies have agreed to a new joint development plan to advance bempegaldesleukin (bempeg) plus Opdivo (nivolumab) into multiple new registrational trials (source: Yahoo Finance).

The 19% jump is making Nektar trading around its fair value. Likely, profit-taking will take place in the next sessions. I'm expecting the stock price to consolidate around $23 level.

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Trade closed: target reached


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