BTIG Research Reiterates “Buy” Rating for Nektar Therapeutics (NASDAQ:NKTR)

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating reissued by BTIG Research in a research note issued on Monday, Marketbeat Ratings reports. They currently have a $4.00 price objective on the biopharmaceutical company’s stock. BTIG Research’s price target suggests a potential upside of 226.53% from the company’s previous close.

Separately, Rodman & Renshaw started coverage on Nektar Therapeutics in a research note on Friday, June 28th. They set a “buy” rating and a $2.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.33.

Nektar Therapeutics Price Performance

NASDAQ NKTR traded up $0.06 during trading hours on Monday, hitting $1.23. The company had a trading volume of 319,606 shares, compared to its average volume of 1,777,063. Nektar Therapeutics has a fifty-two week low of $0.41 and a fifty-two week high of $1.93. The company has a market capitalization of $225.42 million, a price-to-earnings ratio of -1.37 and a beta of 0.60. The firm’s 50 day moving average is $1.25 and its 200 day moving average is $1.30.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The business had revenue of $23.49 million for the quarter, compared to analyst estimates of $17.24 million. Nektar Therapeutics had a negative net margin of 190.09% and a negative return on equity of 133.64%. During the same quarter in the prior year, the business earned ($0.27) earnings per share. On average, equities analysts anticipate that Nektar Therapeutics will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NKTR. Samlyn Capital LLC acquired a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at $11,728,000. GSA Capital Partners LLP boosted its position in Nektar Therapeutics by 185.5% in the fourth quarter. GSA Capital Partners LLP now owns 5,255,790 shares of the biopharmaceutical company’s stock valued at $2,970,000 after buying an additional 3,414,712 shares in the last quarter. Millennium Management LLC lifted its position in shares of Nektar Therapeutics by 56.1% during the second quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock worth $5,778,000 after purchasing an additional 1,674,924 shares in the last quarter. Nantahala Capital Management LLC lifted its position in shares of Nektar Therapeutics by 66.0% during the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock worth $5,096,000 after purchasing an additional 1,634,046 shares in the last quarter. Finally, Lynx1 Capital Management LP lifted its holdings in Nektar Therapeutics by 7.2% in the first quarter. Lynx1 Capital Management LP now owns 2,068,842 shares of the biopharmaceutical company’s stock valued at $1,933,000 after buying an additional 139,644 shares during the period. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.