Nektar Therapeutics (NASDAQ:NKTR) Trading Up 6.9% – What’s Next?

Nektar Therapeutics (NASDAQ:NKTR) shares rose 6.9% during mid-day trading on Friday . The stock traded as high as $37.81 and last traded at $37.8150. Approximately 238,864 shares were traded during trading, a decline of 64% from the average daily volume of 667,710 shares. The stock had previously closed at $35.36.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NKTR shares. Citigroup assumed coverage on shares of Nektar Therapeutics in a research note on Wednesday, November 26th. They issued a “buy” rating and a $102.00 target price for the company. Wall Street Zen cut shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. B. Riley lifted their price objective on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. HC Wainwright upped their target price on Nektar Therapeutics from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, December 17th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Nektar Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $111.83.

Nektar Therapeutics Trading Up 6.6%

The stock has a 50-day moving average price of $50.48 and a 200 day moving average price of $44.20. The stock has a market capitalization of $766.41 million, a price-to-earnings ratio of -4.73 and a beta of 1.31.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.85) by $1.00. The business had revenue of $11.79 million for the quarter, compared to analyst estimates of $10.20 million. Nektar Therapeutics had a negative net margin of 192.87% and a negative return on equity of 456.53%. Equities research analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Mark Andrew Wilson sold 630 shares of Nektar Therapeutics stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total value of $34,196.40. Following the completion of the transaction, the insider owned 21,585 shares in the company, valued at approximately $1,171,633.80. This trade represents a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Zalevsky sold 1,157 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total transaction of $62,801.96. Following the completion of the sale, the insider directly owned 18,971 shares in the company, valued at approximately $1,029,745.88. This represents a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,994 shares of company stock valued at $216,794. 5.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NKTR. BNP Paribas Financial Markets raised its stake in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 210 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Nektar Therapeutics during the second quarter worth approximately $39,000. Headlands Technologies LLC purchased a new stake in shares of Nektar Therapeutics during the second quarter worth approximately $65,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Nektar Therapeutics during the first quarter worth $68,000. Finally, Compass Wealth Management LLC purchased a new position in Nektar Therapeutics in the 3rd quarter valued at $88,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

About Nektar Therapeutics

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.