Nektar Therapeutics’ (NKTR) “Buy” Rating Reaffirmed at B. Riley Financial

B. Riley Financial reiterated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research note released on Monday morning,Benzinga reports. They currently have a $150.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $105.00.

NKTR has been the topic of a number of other research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, December 17th. William Blair raised Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Piper Sandler reiterated an “overweight” rating and set a $105.00 price target on shares of Nektar Therapeutics in a research report on Monday, January 26th. BTIG Research raised their price target on Nektar Therapeutics from $118.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, HC Wainwright lifted their price objective on shares of Nektar Therapeutics from $135.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.29.

Nektar Therapeutics Stock Down 0.1%

NKTR stock opened at $73.62 on Monday. The stock has a market cap of $1.50 billion, a PE ratio of -9.24 and a beta of 1.34. The firm’s 50-day simple moving average is $46.21 and its 200 day simple moving average is $49.09. Nektar Therapeutics has a fifty-two week low of $6.45 and a fifty-two week high of $75.67.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 423 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $73.00, for a total value of $30,879.00. Following the completion of the sale, the chief executive officer directly owned 75,489 shares of the company’s stock, valued at approximately $5,510,697. This represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan Zalevsky sold 3,867 shares of the firm’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 transaction, the insider owned 21,354 shares of the company’s stock, valued at approximately $761,697.18. This trade represents a 15.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,470 shares of company stock valued at $181,955. Insiders own 3.71% of the company’s stock.

Institutional Trading of Nektar Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in Nektar Therapeutics by 336.9% in the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after buying an additional 2,807,595 shares during the last quarter. Farallon Capital Management LLC bought a new stake in shares of Nektar Therapeutics during the 3rd quarter worth $45,008,000. Two Seas Capital LP acquired a new position in shares of Nektar Therapeutics in the 4th quarter worth $31,506,000. Prosight Management LP purchased a new stake in shares of Nektar Therapeutics during the fourth quarter valued at $23,450,000. Finally, Two Sigma Investments LP boosted its position in shares of Nektar Therapeutics by 446.9% in the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock valued at $24,708,000 after purchasing an additional 354,842 shares during the period. 75.88% of the stock is currently owned by institutional investors.

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.