Nektar Therapeutics (NASDAQ:NKTR) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report released on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $153.00 price objective on the biopharmaceutical company’s stock.

NKTR has been the topic of a number of other reports. Citigroup lifted their price objective on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. BTIG Research raised their target price on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Piper Sandler raised their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, HC Wainwright boosted their price target on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nektar Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $150.00.

Nektar Therapeutics Price Performance

NKTR opened at $69.32 on Wednesday. Nektar Therapeutics has a 12 month low of $21.02 and a 12 month high of $109.00. The stock has a market cap of $2.34 billion, a P/E ratio of -8.23 and a beta of 1.13. The stock’s 50 day moving average price is $65.47 and its 200 day moving average price is $65.22.

Nektar Therapeutics (NASDAQ:NKTR) last announced its 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). Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. The business had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Equities analysts anticipate that Nektar Therapeutics will post -9.37 EPS for the current year.

Insider Activity

In other news, insider Jonathan Zalevsky sold 5,681 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the transaction, the insider owned 9,756 shares in the company, valued at $682,920. This represents a 36.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard W. Robin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the sale, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 21,862 shares of company stock worth $1,379,205. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings 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 valued at $25,000 after acquiring an additional 210 shares in the last quarter. KBC Group NV acquired a new position in shares of Nektar Therapeutics in the first quarter worth $52,000. Headlands Technologies LLC purchased a new stake in shares of Nektar Therapeutics during the second quarter worth $65,000. State of Wyoming purchased a new stake in shares of Nektar Therapeutics during the first quarter worth $67,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Nektar Therapeutics during the first quarter valued at $68,000. Hedge funds and other 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.