Nektar Therapeutics (NASDAQ:NKTR) Shares Gap Up Following Analyst Upgrade

Nektar Therapeutics (NASDAQ:NKTR) gapped up prior to trading on Tuesday after William Blair upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $37.07, but opened at $47.15. Nektar Therapeutics shares last traded at $52.5760, with a volume of 3,726,112 shares trading hands.

A number of other brokerages have also recently weighed in on NKTR. HC Wainwright upped their price target on Nektar Therapeutics from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Citigroup initiated coverage on shares of Nektar Therapeutics in a research note on Wednesday, November 26th. They set a “buy” rating and a $102.00 price objective on the stock. BTIG Research reaffirmed a “buy” rating and set a $118.00 price objective on shares of Nektar Therapeutics in a report on Thursday, January 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 29th. Finally, Wall Street Zen cut Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.86.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 3,867 shares of Nektar Therapeutics stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total transaction of $137,935.89. Following the completion of the sale, the insider owned 21,354 shares of the company’s stock, valued at approximately $761,697.18. The trade was a 15.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Howard W. Robin sold 2,207 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $119,795.96. Following the completion of the transaction, the chief executive officer directly owned 54,245 shares in the company, valued at approximately $2,944,418.60. This trade represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 7,861 shares of company stock worth $354,730. Company insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew 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 buying an additional 2,807,595 shares during the period. Integrated Wealth Concepts LLC bought a new position in Nektar Therapeutics during the first quarter worth about $68,000. Rhumbline Advisers grew its stake in Nektar Therapeutics by 23.3% in the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock valued at $151,000 after acquiring an additional 41,948 shares during the period. IFP Advisors Inc acquired a new position in Nektar Therapeutics in the second quarter valued at about $124,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Nektar Therapeutics in the second quarter worth about $39,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Price Performance

The company has a market cap of $1.07 billion, a price-to-earnings ratio of -6.65 and a beta of 1.34. The stock has a 50-day moving average price of $43.32 and a 200 day moving average price of $45.74.

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.