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

Shares of Nektar Therapeutics (NASDAQ:NKTR) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $128.1250.

A number of brokerages recently weighed in on NKTR. Piper Sandler restated an “overweight” rating and set a $105.00 price objective on shares of Nektar Therapeutics in a research note on Monday, January 26th. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, December 17th. B. Riley Financial restated a “buy” rating and set a $150.00 price objective (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. Citigroup lifted their price objective on shares of Nektar Therapeutics from $102.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Wall Street Zen cut shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th.

Nektar Therapeutics Stock Performance

NKTR stock opened at $75.08 on Thursday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -7.36 and a beta of 1.16. Nektar Therapeutics has a 1 year low of $6.45 and a 1 year high of $78.81. The stock’s fifty day moving average is $66.05 and its two-hundred day moving average is $57.20.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, March 12th. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.69) by $0.91. The company had revenue of $21.81 million for the quarter, compared to analysts’ expectations of $10.44 million. Nektar Therapeutics had a negative return on equity of 386.16% and a negative net margin of 297.07%. As a group, analysts predict that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Transactions at Nektar Therapeutics

In related news, insider Jonathan Zalevsky sold 3,867 shares of Nektar Therapeutics 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 sale, the insider directly owned 21,354 shares in the company, valued at $761,697.18. The trade was a 15.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Howard W. Robin sold 423 shares of Nektar Therapeutics stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $73.00, for a total transaction of $30,879.00. Following the sale, the chief executive officer owned 75,489 shares in the company, valued at approximately $5,510,697. This represents a 0.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 4,470 shares of company stock worth $181,955. Company insiders own 5.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 210 shares during the period. Compass Wealth Management LLC acquired a new position in Nektar Therapeutics during the third quarter worth about $88,000. Bessemer Group Inc. grew its holdings 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 during the period. Bayforest Capital Ltd acquired a new position in Nektar Therapeutics during the third quarter worth about $96,000. Finally, Quarry LP acquired a new position in Nektar Therapeutics during the fourth quarter worth about $85,000. 75.88% of the stock is owned by institutional investors and hedge funds.

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.