Nektar Therapeutics (NASDAQ:NKTR) Price Target Raised to $192.00

Nektar Therapeutics (NASDAQ:NKTR) had its target price upped by Piper Sandler from $105.00 to $192.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the company. BTIG Research upped their price objective on Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Citigroup upped their price objective on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. William Blair upgraded Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. B. Riley Financial restated a “buy” rating and issued a $150.00 price objective (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. Finally, Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.50.

Nektar Therapeutics Price Performance

NASDAQ:NKTR opened at $81.89 on Friday. The stock’s 50 day moving average price is $77.37 and its two-hundred day moving average price is $60.96. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -9.73 and a beta of 1.24. Nektar Therapeutics has a 12-month low of $7.99 and a 12-month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The business had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 308.94%. Equities research analysts expect that Nektar Therapeutics will post -10.02 EPS for the current year.

Insider Transactions at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 423 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total transaction of $30,879.00. Following the sale, the chief executive officer owned 75,489 shares of the company’s stock, valued at $5,510,697. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nektar Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. KBC Group NV acquired a new stake in Nektar Therapeutics during the first quarter worth approximately $52,000. Swiss National Bank grew its position in Nektar Therapeutics by 50.2% during the first quarter. Swiss National Bank now owns 47,900 shares of the biopharmaceutical company’s stock worth $3,446,000 after buying an additional 16,000 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Nektar Therapeutics during the first quarter worth approximately $209,000. Bank of New York Mellon Corp acquired a new stake in Nektar Therapeutics during the first quarter worth approximately $475,000. Finally, Emerald Mutual Fund Advisers Trust grew its position in Nektar Therapeutics by 1.2% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 256,106 shares of the biopharmaceutical company’s stock worth $18,427,000 after buying an additional 2,981 shares in the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

Key Headlines Impacting Nektar Therapeutics

Here are the key news stories impacting Nektar Therapeutics this week:

• Positive Sentiment: Piper Sandler raised its price target on Nektar Therapeutics to $192 from $105 and kept an overweight rating, signaling stronger upside expectations for the stock.
• Positive Sentiment: William Blair reiterated a bullish view, citing Nektar’s strong cash position and late-stage autoimmune pipeline as reasons the risk/reward profile remains attractive.
• Positive Sentiment: Investors remain focused on REZPEG, which the company continues to advance in late-stage studies for autoimmune diseases and could be the main long-term value driver.
• Neutral Sentiment: In its first-quarter results, Nektar reported cash and investments of $731.6 million, up sharply from $245.8 million at year-end, improving its balance-sheet flexibility.
• Negative Sentiment: The company reported adjusted losses of $1.82 per share, missing Wall Street expectations, while revenue of $10.86 million also came in slightly below estimates.
• Negative Sentiment: A newly filed class action lawsuit against Nektar and certain officers adds legal overhang and may weigh on investor sentiment until there is more clarity.

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.