Nektar Therapeutics (NASDAQ:NKTR) Given Average Recommendation of “Moderate Buy” by Brokerages

Nektar Therapeutics (NASDAQ:NKTR) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $106.3333.

Several research analysts have recently commented on NKTR shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $121.00 target price (up from $99.00) on shares of Nektar Therapeutics in a report on Monday, November 24th. Citigroup initiated coverage on Nektar Therapeutics in a research report on Wednesday, November 26th. They set a “buy” rating and a $102.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday. Wall Street Zen downgraded Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, BTIG Research restated a “buy” rating and issued a $100.00 price target on shares of Nektar Therapeutics in a research report on Friday, September 19th.

Nektar Therapeutics Stock Performance

NKTR opened at $57.69 on Friday. The stock has a fifty day moving average of $58.84 and a 200-day moving average of $37.03. The company has a market capitalization of $1.17 billion, a P/E ratio of -7.24 and a beta of 1.27. Nektar Therapeutics has a fifty-two week low of $6.45 and a fifty-two week high of $66.92.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) EPS for the quarter, topping analysts’ consensus estimates of ($2.85) by $1.00. The business had revenue of $11.79 million for the quarter, compared to analyst estimates of $10.20 million. Nektar Therapeutics had a negative net margin of 192.87% and a negative return on equity of 456.53%. On average, equities research analysts predict that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 1,157 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $62,801.96. Following the completion of the transaction, the insider directly owned 18,971 shares in the company, valued at approximately $1,029,745.88. The trade was a 5.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Howard W. Robin sold 6,666 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total transaction of $311,235.54. Following the sale, the chief executive officer directly owned 49,342 shares of the company’s stock, valued at approximately $2,303,777.98. This trade represents a 11.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,660 shares of company stock valued at $528,030 in the last ninety days. 5.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its position in shares of Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 210 shares during the last quarter. Bessemer Group Inc. raised its stake in Nektar Therapeutics by 1,741.2% during the third quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 1,480 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Nektar Therapeutics in the second quarter worth about $39,000. Compass Wealth Management LLC bought a new position in shares of Nektar Therapeutics in the third quarter worth about $88,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $96,000. Institutional investors own 75.88% of the company’s stock.

About Nektar Therapeutics

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.