Research analysts at HC Wainwright assumed coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a note issued to investors on Monday. The brokerage set a “buy” rating and a $31.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 54.77% from the company’s current price.

A number of other research firms also recently commented on NKTR. William Blair restated an “outperform” rating on shares of Nektar Therapeutics in a report on Monday, June 26th. Jefferies Group LLC set a $25.00 price objective on Nektar Therapeutics and gave the stock a “buy” rating in a report on Saturday, April 22nd. ValuEngine upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday, August 1st. Finally, Roth Capital set a $31.00 price objective on Nektar Therapeutics and gave the stock a “buy” rating in a report on Thursday, May 11th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $26.56.

Shares of Nektar Therapeutics (NASDAQ:NKTR) opened at 20.03 on Monday. The stock has a 50 day moving average price of $20.36 and a 200-day moving average price of $18.04. The firm’s market capitalization is $3.11 billion. Nektar Therapeutics has a 52 week low of $11.41 and a 52 week high of $24.88.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.02. The firm had revenue of $24.73 million for the quarter, compared to analyst estimates of $29.43 million. Nektar Therapeutics had a negative return on equity of 3,072.86% and a negative net margin of 150.74%. The company’s quarterly revenue was down 58.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Equities analysts anticipate that Nektar Therapeutics will post ($1.16) earnings per share for the current year.

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In related news, CFO Gil M. Labrucherie sold 3,179 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $19.55, for a total value of $62,149.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Chess sold 5,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $19.79, for a total value of $98,950.00. Following the completion of the sale, the director now owns 276,623 shares of the company’s stock, valued at $5,474,369.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,803 shares of company stock valued at $3,328,247. 5.44% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. increased its stake in shares of Nektar Therapeutics by 1.1% in the first quarter. Prudential Financial Inc. now owns 262,243 shares of the biopharmaceutical company’s stock valued at $6,155,000 after buying an additional 2,890 shares in the last quarter. Elkfork Partners LLC increased its stake in shares of Nektar Therapeutics by 11.1% in the first quarter. Elkfork Partners LLC now owns 9,520 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 952 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Nektar Therapeutics by 21.8% in the first quarter. Bank of Montreal Can now owns 8,195 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 1,464 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Nektar Therapeutics by 4.9% in the first quarter. Vanguard Group Inc. now owns 13,607,980 shares of the biopharmaceutical company’s stock valued at $319,379,000 after buying an additional 634,700 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its stake in shares of Nektar Therapeutics by 20.2% in the first quarter. State of Tennessee Treasury Department now owns 143,644 shares of the biopharmaceutical company’s stock valued at $3,371,000 after buying an additional 24,123 shares in the last quarter. Hedge funds and other institutional investors own 94.09% of the company’s stock.

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.

Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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