BTIG Research Issues Positive Forecast for Nektar Therapeutics (NASDAQ:NKTR) Stock Price

Nektar Therapeutics (NASDAQ:NKTR) had its price objective upped by BTIG Research from $100.00 to $118.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the stock. B. Riley raised their price target on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a research note on Monday. Wall Street Zen cut shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Citigroup began coverage on Nektar Therapeutics in a research note on Wednesday, November 26th. They set a “buy” rating and a $102.00 price target on the stock. Finally, HC Wainwright lifted their price objective on Nektar Therapeutics from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.83.

Nektar Therapeutics Price Performance

NKTR traded down $2.90 during midday trading on Tuesday, reaching $46.26. 1,115,758 shares of the company’s stock were exchanged, compared to its average volume of 892,385. The stock has a market capitalization of $941.02 million, a PE ratio of -5.82 and a beta of 1.27. The business’s 50-day moving average price is $58.18 and its 200 day moving average price is $39.92. Nektar Therapeutics has a 1-year low of $6.45 and a 1-year high of $66.92.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.85) by $1.00. The firm had revenue of $11.79 million during the quarter, compared to the consensus estimate of $10.20 million. Nektar Therapeutics had a negative return on equity of 456.53% and a negative net margin of 192.87%. As a group, analysts expect that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Activity

In related news, CEO Howard W. Robin sold 2,207 shares of the 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 completion of the sale, the chief executive officer owned 54,245 shares of the company’s stock, valued at approximately $2,944,418.60. This represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Zalevsky sold 1,157 shares of Nektar Therapeutics 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 $62,801.96. Following the transaction, the insider directly owned 18,971 shares in the company, valued at approximately $1,029,745.88. This trade represents a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,994 shares of company stock valued at $216,794 in the last three months. Corporate insiders own 3.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NKTR. Acadian Asset Management LLC grew its stake in Nektar Therapeutics by 1.4% during the 1st quarter. Acadian Asset Management LLC now owns 7,301,734 shares of the biopharmaceutical company’s stock valued at $4,961,000 after purchasing an additional 100,645 shares in the last quarter. Gainplan LLC acquired a new stake in shares of Nektar Therapeutics during the second quarter worth approximately $388,000. Nuveen LLC acquired a new stake in shares of Nektar Therapeutics during the first quarter worth approximately $222,000. Fred Alger Management LLC bought a new stake in shares of Nektar Therapeutics in the first quarter worth $344,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Nektar Therapeutics by 14.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,007,928 shares of the biopharmaceutical company’s stock valued at $2,045,000 after acquiring an additional 380,967 shares in the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.