Nektar Therapeutics (NASDAQ:NKTR) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research note released on Monday, Marketbeat reports. The brokerage issued an overweight rating and a $7.00 price target on the biopharmaceutical company’s stock.

Separately, BTIG Research reissued a “buy” rating and set a $4.00 price target on shares of Nektar Therapeutics in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Nektar Therapeutics presently has an average rating of “Hold” and a consensus target price of $3.50.

Nektar Therapeutics Stock Performance

Shares of NASDAQ NKTR opened at $1.37 on Monday. The firm has a 50 day moving average price of $1.29 and a 200 day moving average price of $1.34. The stock has a market cap of $252.19 million, a P/E ratio of -1.52 and a beta of 0.61. Nektar Therapeutics has a 52-week low of $0.41 and a 52-week high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The firm had revenue of $23.49 million during the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.27) earnings per share. Analysts predict that Nektar Therapeutics will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nektar Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Samlyn Capital LLC bought a new position in shares of Nektar Therapeutics during the 2nd quarter worth approximately $11,728,000. Millennium Management LLC lifted its holdings in Nektar Therapeutics by 56.1% during the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock valued at $5,778,000 after purchasing an additional 1,674,924 shares during the last quarter. Nantahala Capital Management LLC boosted its position in 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 during the period. Lynx1 Capital Management LP increased its holdings in shares of 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 purchasing an additional 139,644 shares during the last quarter. Finally, Armistice Capital LLC bought a new position in shares of Nektar Therapeutics in the second quarter valued at about $1,037,000. 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.