Nektar Therapeutics (NASDAQ:NKTR) Stock Jumps 5.4% – What’s Next?

Nektar Therapeutics (NASDAQ:NKTR) shares were up 5.4% during trading on Thursday. The company traded as high as $58.53 and last traded at $60.75. 633,702 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 1,024,084 shares. The stock had previously closed at $57.66.

More Nektar Therapeutics News

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

• Positive Sentiment: A U.S. jury found that Eli Lilly breached its implied covenant of good faith in connection with the rezpegaldesleukin collaboration, awarding Nektar approximately $90 million. The award could provide a meaningful cash benefit for Nektar, although potential appeals and collection timing remain considerations. Reuters article
• Positive Sentiment: BTIG reaffirmed its Buy rating and set a $178 price target, signaling substantial confidence in Nektar’s pipeline and potential upside following the legal verdict. Benzinga article

Wall Street Analyst Weigh In

Several analysts recently weighed in on NKTR shares. JPMorgan Chase & Co. assumed coverage on shares of Nektar Therapeutics in a report on Friday, August 21st. They issued a “neutral” rating and a $65.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Friday, August 28th. Wedbush lowered their price objective on Nektar Therapeutics from $80.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday. Canaccord Genuity Group assumed coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They set a “buy” rating and a $153.00 price target for the company. Finally, BTIG Research reiterated a “buy” rating and set a $178.00 target price on shares of Nektar Therapeutics in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.50.

Nektar Therapeutics Trading Down 3.9%

The stock has a fifty day simple moving average of $70.99 and a two-hundred day simple moving average of $71.67. The company has a market cap of $1.95 billion, a PE ratio of -8.52 and a beta of 1.14.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.74. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%.The company had revenue of $10.13 million during the quarter, compared to the consensus estimate of $10.43 million. As a group, equities research analysts anticipate that Nektar Therapeutics will post -8.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Nektar Therapeutics news, CEO Howard Robin sold 418 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total transaction of $30,087.64. Following the transaction, the chief executive officer owned 54,627 shares of the company’s stock, valued at $3,932,051.46. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Zalevsky sold 5,681 shares of the company’s stock in a transaction 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 completion of the transaction, the insider owned 9,756 shares of the company’s stock, valued at $682,920. The trade was a 36.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 6,285 shares of company stock worth $441,146. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NKTR. KBC Group NV purchased a new position in Nektar Therapeutics in the 1st quarter worth approximately $52,000. State of Wyoming purchased a new stake in Nektar Therapeutics during the 1st quarter worth approximately $67,000. Great Lakes Advisors LLC bought a new position in Nektar Therapeutics during the 2nd quarter valued at $206,000. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Nektar Therapeutics in the 4th quarter worth about $208,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Nektar Therapeutics during the first quarter worth about $209,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that harness the body’s immune system to treat cancer and autoimmune and inflammatory diseases. The company’s research is centered on cytokine biology, immune-cell regulation and its proprietary polymer-conjugation technologies, which are designed to modify therapeutic compounds and potentially improve their duration, delivery or tolerability.

Nektar’s pipeline has included investigational therapies such as rezpegaldesleukin, an immune-modulating treatment being studied for autoimmune and inflammatory conditions.