Nektar Therapeutics (NASDAQ:NKTR) Receives $149.62 Consensus Price Target from Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTR) have received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $149.6250.

NKTR has been the subject of several analyst reports. BTIG Research upped their target price on Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a report on Monday, April 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. Piper Sandler upped their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Citigroup raised their price objective on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st.

Nektar Therapeutics Trading Down 5.0%

NASDAQ:NKTR opened at $64.84 on Friday. The company’s 50 day moving average is $65.80 and its two-hundred day moving average is $64.85. The company has a market cap of $2.19 billion, a PE ratio of -7.70 and a beta of 1.13. Nektar Therapeutics has a twelve month low of $21.02 and a twelve month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The company had revenue of $10.86 million for the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. As a group, analysts expect that Nektar Therapeutics will post -9.37 EPS for the current fiscal year.

Insider Activity at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 5,681 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the completion of the sale, the insider owned 9,756 shares in the company, valued at $682,920. This trade represents a 36.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total value of $603,200.00. Following the transaction, the chief executive officer owned 65,045 shares of the company’s stock, valued at $3,923,514.40. This trade represents a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,862 shares of company stock valued at $1,379,205. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its holdings in shares of Nektar Therapeutics by 93.8% in the 3rd 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 in the last quarter. KBC Group NV bought a new position in shares of Nektar Therapeutics during the first quarter valued at approximately $52,000. Deutsche Bank AG increased its holdings in Nektar Therapeutics by 0.8% during the fourth quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company’s stock valued at $3,837,000 after buying an additional 743 shares during the period. FNY Investment Advisers LLC increased its holdings in Nektar Therapeutics by 15.8% during the second quarter. FNY Investment Advisers LLC now owns 5,500 shares of the biopharmaceutical company’s stock valued at $383,000 after buying an additional 750 shares during the period. Finally, Bayforest Capital Ltd raised its stake in Nektar Therapeutics by 51.3% in the fourth quarter. Bayforest Capital Ltd now owns 2,541 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 862 shares in the last quarter. 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.