Nektar Therapeutics (NASDAQ:NKTR) Earns Buy Rating from Analysts at Canaccord Genuity Group

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

NKTR has been the subject of several other research reports. Citigroup boosted their price target on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Wedbush decreased their price objective on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. BTIG Research boosted their target price on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. Finally, HC Wainwright increased their target price on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Nektar Therapeutics Stock Performance

Shares of NKTR opened at $70.72 on Wednesday. The stock has a 50-day simple moving average of $65.37 and a 200-day simple moving average of $65.44. The stock has a market capitalization of $2.39 billion, a PE ratio of -8.40 and a beta of 1.13. Nektar Therapeutics has a 1 year low of $21.02 and a 1 year high of $109.00.

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

Insider Activity at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 5,681 shares of the business’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 approximately $682,920. The trade was a 36.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Howard W. Robin sold 10,000 shares of the business’s 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 sale, the chief executive officer owned 65,045 shares of the company’s stock, valued at $3,923,514.40. This represents a 13.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,862 shares of company stock worth $1,379,205 over the last quarter. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake 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 in the last quarter. KBC Group NV purchased a new position in shares of Nektar Therapeutics during the first quarter worth about $52,000. Headlands Technologies LLC acquired a new stake in shares of Nektar Therapeutics during the second quarter worth about $65,000. State of Wyoming acquired a new stake in shares of Nektar Therapeutics during the first quarter worth about $67,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Nektar Therapeutics in the 1st quarter valued at about $68,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

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.