Nektar Therapeutics (NASDAQ:NKTR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Nektar Therapeutics (NASDAQ:NKTR) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $150.00.

A number of equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. HC Wainwright upped their target price on Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Canaccord Genuity Group started coverage on Nektar Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $153.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. Finally, Citigroup lifted their price target on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st.

Nektar Therapeutics Stock Up 2.0%

NASDAQ NKTR opened at $70.72 on Friday. The stock’s 50-day simple moving average is $65.37 and its two-hundred day simple moving average is $65.44. Nektar Therapeutics has a twelve month low of $21.02 and a twelve month high of $109.00. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -8.40 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. On average, equities analysts expect that Nektar Therapeutics will post -9.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were 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 directly owned 65,045 shares in the company, valued at $3,923,514.40. This represents a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathan Zalevsky sold 5,681 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the transaction, the insider directly owned 9,756 shares in the company, valued at $682,920. This trade represents a 36.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 21,862 shares of company stock worth $1,379,205. 2.50% of the stock is owned by insiders.

Institutional Trading of Nektar Therapeutics

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in shares of Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 210 shares during the last quarter. KBC Group NV bought a new position in Nektar Therapeutics during the 1st quarter valued at approximately $52,000. Deutsche Bank AG raised its position in Nektar Therapeutics by 0.8% during the 4th quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company’s stock valued at $3,837,000 after purchasing an additional 743 shares during the last quarter. FNY Investment Advisers LLC lifted its holdings in Nektar Therapeutics by 15.8% in the 2nd quarter. FNY Investment Advisers LLC now owns 5,500 shares of the biopharmaceutical company’s stock worth $383,000 after buying an additional 750 shares during the period. Finally, Bayforest Capital Ltd lifted its holdings in Nektar Therapeutics by 51.3% in the 4th quarter. Bayforest Capital Ltd now owns 2,541 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 862 shares during the period. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

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.