Nektar Therapeutics (NASDAQ:NKTR) Stock Price Expected to Rise, Citigroup Analyst Says

Nektar Therapeutics (NASDAQ:NKTR) had its price target upped by research analysts at Citigroup from $102.00 to $123.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s target price points to a potential upside of 66.42% from the company’s previous close.

NKTR has been the topic of a number of other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 29th. Piper Sandler reiterated an “overweight” rating and issued a $105.00 target price on shares of Nektar Therapeutics in a research report on Monday, January 26th. HC Wainwright raised their target price on shares of Nektar Therapeutics from $135.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective on shares of Nektar Therapeutics in a report on Friday. Finally, BTIG Research raised their price objective on shares of Nektar Therapeutics from $118.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nektar Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $136.43.

Nektar Therapeutics Stock Performance

Shares of Nektar Therapeutics stock traded up $0.66 during trading on Monday, hitting $73.91. 356,553 shares of the stock were exchanged, compared to its average volume of 1,160,103. Nektar Therapeutics has a 12 month low of $6.45 and a 12 month high of $77.00. The stock’s fifty day moving average is $53.50 and its 200 day moving average is $53.40. The stock has a market cap of $1.50 billion, a PE ratio of -7.25 and a beta of 1.16.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, March 12th. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, beating the consensus estimate of ($2.69) by $0.91. The firm had revenue of $21.81 million for the quarter, compared to the consensus estimate of $10.44 million. Nektar Therapeutics had a negative net margin of 297.07% and a negative return on equity of 386.16%. Sell-side analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 3,867 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $35.67, for a total value of $137,935.89. Following the transaction, the insider owned 21,354 shares in the company, valued at $761,697.18. The trade was a 15.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Howard W. Robin sold 423 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total value of $30,879.00. Following the sale, the chief executive officer directly owned 75,489 shares of the company’s stock, valued at $5,510,697. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 4,470 shares of company stock valued at $181,955. 3.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Emerald Mutual Fund Advisers Trust bought a new position in Nektar Therapeutics during the third quarter valued at about $13,269,000. Simplify Asset Management Inc. boosted its stake in shares of Nektar Therapeutics by 67.6% during the 3rd quarter. Simplify Asset Management Inc. now owns 87,174 shares of the biopharmaceutical company’s stock worth $4,960,000 after acquiring an additional 35,176 shares in the last quarter. Emerald Advisers LLC acquired a new position in shares of Nektar Therapeutics during the 3rd quarter valued at about $18,393,000. Moody Aldrich Partners LLC increased its holdings in shares of Nektar Therapeutics by 62.3% during the 3rd quarter. Moody Aldrich Partners LLC now owns 73,716 shares of the biopharmaceutical company’s stock valued at $4,194,000 after acquiring an additional 28,304 shares during the last quarter. Finally, Readystate Asset Management LP bought a new position in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $2,563,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Company Profile

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.