Nektar Therapeutics (NASDAQ:NKTR) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTR) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $119.8571.

Several brokerages recently issued reports on NKTR. HC Wainwright lifted their price target on shares of Nektar Therapeutics from $135.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Citigroup initiated coverage on shares of Nektar Therapeutics in a research note on Wednesday, November 26th. They issued a “buy” rating and a $102.00 target price for the company. BTIG Research increased their price target on Nektar Therapeutics from $118.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, December 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $105.00 price objective on shares of Nektar Therapeutics in a research note on Monday, January 26th.

Insider Buying and Selling

In other news, CEO Howard W. Robin sold 2,207 shares of the company’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 transaction of $119,795.96. Following the transaction, the chief executive officer directly owned 54,245 shares in the company, valued at approximately $2,944,418.60. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Wilson sold 630 shares of the firm’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 transaction of $34,196.40. Following the completion of the sale, the insider directly owned 21,585 shares of the company’s stock, valued at approximately $1,171,633.80. This represents a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,861 shares of company stock worth $354,730 in the last 90 days. Corporate insiders own 3.71% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings 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 acquiring an additional 210 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Nektar Therapeutics during the 2nd quarter valued at about $39,000. Headlands Technologies LLC acquired a new position in Nektar Therapeutics during the 2nd quarter valued at about $65,000. Integrated Wealth Concepts LLC bought a new position in shares of Nektar Therapeutics in the 1st quarter valued at about $68,000. Finally, Quarry LP acquired a new stake in shares of Nektar Therapeutics during the 4th quarter worth approximately $85,000. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Price Performance

Nektar Therapeutics stock opened at $73.82 on Wednesday. The firm has a market capitalization of $1.50 billion, a P/E ratio of -9.26 and a beta of 1.34. The stock has a fifty day moving average price of $44.66 and a two-hundred day moving average price of $47.65. Nektar Therapeutics has a 52-week low of $6.45 and a 52-week high of $74.89.

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.