Nektar Therapeutics (NASDAQ:NKTR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Nektar Therapeutics (NASDAQ:NKTR) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $149.6250.

A number of research analysts have recently issued reports on NKTR shares. BTIG Research boosted 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. Wall Street Zen raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Wedbush lowered their target price on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Piper Sandler boosted their price target on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, HC Wainwright increased their price target on Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, April 20th.

Nektar Therapeutics Stock Up 1.8%

NKTR stock opened at $68.26 on Friday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -8.11 and a beta of 1.13. Nektar Therapeutics has a 12-month low of $21.02 and a 12-month high of $109.00. The company’s fifty day simple moving average is $66.08 and its 200 day simple moving average is $64.53.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The business had revenue of $10.86 million for the quarter, compared to analyst estimates of $10.69 million. Research analysts expect that Nektar Therapeutics will post -9.37 earnings per share for the current year.

Insider Buying and Selling at Nektar Therapeutics

In related news, insider Jonathan Zalevsky sold 5,681 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the transaction, the insider directly owned 9,756 shares of the company’s stock, valued at $682,920. This represents a 36.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the sale, the chief executive officer owned 65,045 shares of the company’s stock, valued at $3,923,514.40. The trade was a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,862 shares of company stock valued at $1,379,205 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its position in shares of Nektar Therapeutics by 336.9% during the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after purchasing an additional 2,807,595 shares in the last quarter. Two Seas Capital LP bought a new stake in Nektar Therapeutics in the 4th quarter valued at about $31,506,000. Prosight Management LP bought a new stake in Nektar Therapeutics in the 4th quarter valued at about $23,450,000. Two Sigma Investments LP raised its stake in Nektar Therapeutics by 446.9% during the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock worth $24,708,000 after buying an additional 354,842 shares during the period. Finally, Armistice Capital LLC raised its stake in Nektar Therapeutics by 122.4% during the 4th quarter. Armistice Capital LLC now owns 596,000 shares of the biopharmaceutical company’s stock worth $25,199,000 after buying an additional 328,000 shares during the period. Institutional investors and hedge funds 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.