Nektar Therapeutics (NASDAQ:NKTR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Nektar Therapeutics (NASDAQ:NKTR) has earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $149.6250.

Several research firms recently commented on NKTR. BTIG Research lifted their price target on Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. William Blair upgraded shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Finally, Piper Sandler increased their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th.

Nektar Therapeutics Trading Up 0.1%

NASDAQ:NKTR opened at $59.31 on Friday. The company has a market capitalization of $2.00 billion, a P/E ratio of -7.04 and a beta of 1.13. Nektar Therapeutics has a 12 month low of $7.99 and a 12 month high of $109.00. The business’s 50-day moving average is $76.18 and its 200 day moving average is $62.26.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The company had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. On average, research analysts forecast that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Insider Activity

In other Nektar Therapeutics news, CEO Howard W. Robin sold 444 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $65.51, for a total transaction of $29,086.44. Following the completion of the transaction, the chief executive officer owned 75,045 shares in the company, valued at $4,916,197.95. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in 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 acquiring an additional 210 shares during the last quarter. KBC Group NV purchased a new position in Nektar Therapeutics in the 1st quarter worth about $52,000. Headlands Technologies LLC purchased a new position in Nektar Therapeutics in the 2nd quarter worth about $65,000. State of Wyoming purchased a new position in Nektar Therapeutics in the 1st quarter worth about $67,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Nektar Therapeutics in the 1st quarter worth about $68,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

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.