Nektar Therapeutics (NASDAQ:NKTR) Shares Up 7% – Here’s What Happened

Nektar Therapeutics (NASDAQ:NKTR)’s stock price traded up 7% during trading on Friday . The stock traded as high as $39.75 and last traded at $39.10. 239,993 shares were traded during trading, a decline of 64% from the average session volume of 674,612 shares. The stock had previously closed at $36.53.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NKTR. HC Wainwright raised their price target on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Citigroup began coverage on Nektar Therapeutics in a research note on Wednesday, November 26th. They issued a “buy” rating and a $102.00 price objective for the company. BTIG Research lifted their target price on Nektar Therapeutics from $100.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 29th. Finally, Wall Street Zen lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.83.

Nektar Therapeutics Stock Performance

The stock has a market cap of $754.82 million, a PE ratio of -4.66 and a beta of 1.31. The business has a 50 day moving average price of $48.45 and a two-hundred day moving average price of $44.64.

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

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 2,207 shares of Nektar Therapeutics stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $119,795.96. Following the sale, the chief executive officer owned 54,245 shares of the company’s stock, valued at approximately $2,944,418.60. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan Zalevsky sold 3,867 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total transaction of $137,935.89. Following the completion of the transaction, the insider owned 21,354 shares in the company, valued at approximately $761,697.18. The trade was a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,861 shares of company stock worth $354,730 in the last ninety days. Company insiders own 5.25% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Nektar Therapeutics in the second quarter valued at $39,000. Headlands Technologies LLC purchased a new position in shares of Nektar Therapeutics during the 2nd quarter valued at $65,000. Integrated Wealth Concepts LLC bought a new position in shares of Nektar Therapeutics during the 1st quarter worth $68,000. Finally, Compass Wealth Management LLC bought a new position in shares of Nektar Therapeutics during the 3rd quarter worth $88,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Company Profile

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.