Nektar Therapeutics (NASDAQ:NKTR) Stock Price Up 5.2% – What’s Next?

Shares of Nektar Therapeutics (NASDAQ:NKTR) shot up 5.2% on Tuesday . The stock traded as high as $75.87 and last traded at $76.9510. 175,376 shares changed hands during trading, a decline of 84% from the average session volume of 1,112,312 shares. The stock had previously closed at $73.15.

Wall Street Analyst Weigh In

NKTR has been the topic of a number of recent research reports. TD Cowen initiated coverage on shares of Nektar Therapeutics in a research report on Tuesday, March 17th. They issued a “buy” rating on the stock. Citigroup boosted their price objective on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Oppenheimer reiterated an “outperform” rating and set a $140.00 price objective on shares of Nektar Therapeutics in a research note on Friday, March 13th. Wedbush cut their target price on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Finally, Piper Sandler lifted their target price on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.62.

Nektar Therapeutics Price Performance

The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -8.54 and a beta of 1.13. The company has a 50-day simple moving average of $68.16 and a two-hundred day simple moving average of $63.47.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results 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). Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. The firm had revenue of $10.86 million for the quarter, compared to analyst estimates of $10.69 million. Research analysts anticipate that Nektar Therapeutics will post -9.45 EPS for the current year.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total value of $603,200.00. Following the sale, the chief executive officer owned 65,045 shares in the company, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Zalevsky sold 5,681 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider directly owned 9,756 shares in the company, valued at approximately $682,920. This trade represents a 36.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,862 shares of company stock valued at $1,379,205 over the last three months. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of Nektar Therapeutics

Large investors have recently added to or reduced their stakes in the business. 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 in the last quarter. KBC Group NV bought a new position in shares of Nektar Therapeutics in the first quarter worth $52,000. Headlands Technologies LLC acquired a new position in shares of Nektar Therapeutics during the second quarter valued at $65,000. State of Wyoming bought a new stake in shares of Nektar Therapeutics during the first quarter valued at about $67,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Nektar Therapeutics during the first quarter valued at about $68,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

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.