Nektar Therapeutics (NASDAQ:NKTR) Now Covered by JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. assumed coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research note issued to investors on Friday. The brokerage set a “neutral” rating and a $65.00 price target on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 13.91% from the stock’s current price.

Several other research firms have also weighed in on NKTR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Tuesday, June 2nd. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Canaccord Genuity Group began coverage on Nektar Therapeutics in a report on Wednesday, July 22nd. They set a “buy” rating and a $153.00 target price for the company. Wedbush dropped their price target on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Finally, Piper Sandler raised their price target on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.50.

Nektar Therapeutics Stock Up 1.3%

NKTR stock traded up $0.97 during trading on Friday, hitting $75.50. 61,366 shares of the company’s stock traded hands, compared to its average volume of 1,028,910. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -11.27 and a beta of 1.14. Nektar Therapeutics has a 52 week low of $26.45 and a 52 week high of $109.00. The stock has a fifty day moving average price of $69.34 and a two-hundred day moving average price of $70.33.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.97) by $0.74. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. The company had revenue of $10.13 million for the quarter, compared to the consensus estimate of $10.43 million. As a group, equities research analysts expect that Nektar Therapeutics will post -8.6 EPS for the current fiscal year.

Insider Activity at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 5,681 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total transaction of $397,670.00. Following the completion of the transaction, the insider directly owned 9,756 shares in the company, valued at approximately $682,920. The trade was a 36.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Howard W. Robin sold 418 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total value of $30,087.64. Following the completion of the transaction, the chief executive officer directly owned 54,627 shares of the company’s stock, valued at $3,932,051.46. This trade represents a 0.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 21,823 shares of company stock worth $1,380,558 in the last 90 days. 2.50% of the stock is owned by company insiders.

Institutional Trading of Nektar Therapeutics

Several hedge funds have recently added to or reduced their stakes in NKTR. AQR Capital Management LLC boosted its position in 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 acquiring an additional 2,807,595 shares during the period. BVF Inc. IL increased its holdings in shares of Nektar Therapeutics by 22.2% during the fourth quarter. BVF Inc. IL now owns 1,559,595 shares of the biopharmaceutical company’s stock valued at $65,940,000 after purchasing an additional 283,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Nektar Therapeutics by 30.0% during the third quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company’s stock valued at $53,978,000 after purchasing an additional 219,155 shares during the period. Two Seas Capital LP bought a new stake in shares of Nektar Therapeutics during the fourth quarter valued at about $31,506,000. Finally, Armistice Capital LLC raised its stake in shares of Nektar Therapeutics by 122.4% during the fourth quarter. Armistice Capital LLC now owns 596,000 shares of the biopharmaceutical company’s stock valued at $25,199,000 after purchasing an additional 328,000 shares in the last quarter. 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.