Quick Win By The Algorithm: NKTR Riding High

Quick Win By The Algorithm

On November 10th, 2017, I Know First issued a bullish 7 day forecast for Nektar Therapeutics (NASDAQ: NKTR). The forecast showed a signal of 122.78 and a predictability of 0.06. In accordance with the forecast, NKTR’s stock returned 41.75% over this period, solidifying another quick win by the I Know First algorithm.

Nektar Therapeutics develops drug candidates based on its PEGylation and polymer conjugate technology platforms in the United States. Its product pipeline includes drug candidates in therapeutic areas comprising cancer, auto-immune disease, and chronic pain. The company offers MOVANTIK, an oral peripherally-acting opioid antagonist for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain.  It also offers MOVENTIG for the treatment of opioid-induced constipation in adult patients who have an inadequate response to laxatives.  Lastly, it offers ADYNOVATE for use in treating Hemophilia A.

Best Short Term Stocks

Nektar Therapeutic’s stock has increased significantly over the past few weeks on the back of multiple successes.  The first catalyst for the surge higher was the release of better than expected Q3 results.  The company beat on both the top and bottom line and raised its revenue outlook for the remainder of 2017.

NKTR then rose to new 15-year highs on the back of a positive report from the company that revealed additional encouraging data on its therapeutic cancer treatment candidate NKTR-214.  The results boded well for cancer sufferers and investors.  Additionally, Canaccord Genuity analyst Arlinda Lee maintained a Buy rating and raised the price target from $35 to $50.  This increase in valuation was due to the positive news as well as the future release of more clinical data in 2018 that could drive the stock higher.

Current I Know First subscribers received this bullish NKTR forecast on November 10th, 2017

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.