Nektar should test 21.34 on earnings strength and might fill gap
Nektar Therapeutics got a big upside surprise on its earnings report for both earnings and revenue. With earnings and revenue trending up, $21-22 is a fair price for the stock given analyst estimates from before the earnings report. There's resistance at 21.34, so we may initially get rejected from that level.
In the near-to-mid-term, however, the earnings beat should lead analysts to revise their forecasts upward. Depending on the size of the revisions, Nektar could attempt a gap fill up to 27.85. (Average analyst price target is over $29.)
In the near-to-mid-term, however, the earnings beat should lead analysts to revise their forecasts upward. Depending on the size of the revisions, Nektar could attempt a gap fill up to 27.85. (Average analyst price target is over $29.)
Comment:
Nektar is indeed gap filling today, and I am up nearly 20% on this trade. I also discussed this pick on the Wall Street Petting Zoo podcast over the weekend and emphasized that Nektar was my top pick for the week. Give us a subscribe on YouTube, Podbean, or iTunes.
Comment:
I went ahead and took some profit on Nektar here, and will buy back in if it dips again.
Comment:
Nektar seems to have outpaced its earnings forecasts, so I'd take profit if you haven't already.