Nektar Therapeutics (NASDAQ:NKTR) Coverage Initiated by Analysts at Wedbush

Investment analysts at Wedbush began coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report issued on Tuesday. The firm set a “neutral” rating and a $70.00 price target on the biopharmaceutical company’s stock. Wedbush’s price objective suggests a potential downside of 5.84% from the stock’s current price.

A number of other brokerages have also recently issued reports on NKTR. Citigroup lifted their price target on shares of Nektar Therapeutics from $102.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Piper Sandler restated an “overweight” rating and issued a $105.00 price objective on shares of Nektar Therapeutics in a report on Monday, January 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, December 17th. TD Cowen initiated coverage on Nektar Therapeutics in a research report on Tuesday, March 17th. They issued a “buy” rating on the stock. Finally, HC Wainwright upped their price target on Nektar Therapeutics from $135.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.13.

Nektar Therapeutics Trading Up 2.9%

NKTR opened at $74.34 on Tuesday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -7.29 and a beta of 1.16. The stock has a fifty day simple moving average of $57.32 and a two-hundred day simple moving average of $55.23. Nektar Therapeutics has a 12-month low of $6.45 and a 12-month high of $77.00.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Thursday, March 12th. The biopharmaceutical company reported ($1.78) EPS for the quarter, beating analysts’ consensus estimates of ($2.69) by $0.91. The firm had revenue of $21.81 million for the quarter, compared to analysts’ expectations of $10.44 million. Nektar Therapeutics had a negative net margin of 297.07% and a negative return on equity of 386.16%. On average, analysts predict that Nektar Therapeutics will post -0.72 EPS for the current year.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 3,867 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total transaction of $137,935.89. Following the transaction, the insider owned 21,354 shares in the company, valued at approximately $761,697.18. This represents a 15.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 423 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $73.00, for a total transaction of $30,879.00. Following the sale, the chief executive officer directly owned 75,489 shares in the company, valued at approximately $5,510,697. The trade was a 0.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 4,470 shares of company stock valued at $181,955. 3.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust purchased a new stake in Nektar Therapeutics during the 3rd quarter valued at $13,269,000. Simplify Asset Management Inc. boosted its stake in shares of Nektar Therapeutics by 67.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 87,174 shares of the biopharmaceutical company’s stock worth $4,960,000 after buying an additional 35,176 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of Nektar Therapeutics in the 3rd quarter worth $18,393,000. Moody Aldrich Partners LLC grew its holdings in shares of Nektar Therapeutics by 62.3% in the third quarter. Moody Aldrich Partners LLC now owns 73,716 shares of the biopharmaceutical company’s stock worth $4,194,000 after acquiring an additional 28,304 shares during the period. Finally, Farallon Capital Management LLC bought a new stake in shares of Nektar Therapeutics in the third quarter worth $45,008,000. Institutional investors own 75.88% of the company’s stock.

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.