Nektar Therapeutics (NASDAQ:NKTR) Price Target Raised to $135.00 at HC Wainwright

Nektar Therapeutics (NASDAQ:NKTR) had its price target increased by stock analysts at HC Wainwright from $120.00 to $135.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 167.86% from the company’s previous close.

A number of other analysts have also recently commented on NKTR. Citigroup initiated coverage on Nektar Therapeutics in a research report on Wednesday, November 26th. They set a “buy” rating and a $102.00 price objective for the company. B. Riley boosted their price target on Nektar Therapeutics from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $121.00 price objective (up previously from $99.00) on shares of Nektar Therapeutics in a research note on Monday, November 24th. BTIG Research restated a “buy” rating and set a $100.00 target price on shares of Nektar Therapeutics in a research report on Friday, September 19th. Finally, Wall Street Zen downgraded shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nektar Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $108.83.

Nektar Therapeutics Stock Performance

Shares of NKTR traded down $2.90 during mid-day trading on Tuesday, hitting $50.40. 3,258,306 shares of the company traded hands, compared to its average volume of 886,831. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -6.32 and a beta of 1.27. The stock has a 50-day moving average price of $58.35 and a two-hundred day moving average price of $39.65. Nektar Therapeutics has a 1 year low of $6.45 and a 1 year high of $66.92.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) EPS for the quarter, topping analysts’ consensus estimates of ($2.85) by $1.00. The business had revenue of $11.79 million during the quarter, compared to the consensus estimate of $10.20 million. Nektar Therapeutics had a negative net margin of 192.87% and a negative return on equity of 456.53%. On average, analysts forecast that Nektar Therapeutics will post -0.72 EPS for the current year.

Insider Buying and Selling

In other news, insider Mark Andrew Wilson sold 630 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total value of $34,196.40. Following the transaction, the insider directly owned 21,585 shares in the company, valued at $1,171,633.80. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Zalevsky sold 1,157 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total value of $62,801.96. Following the sale, the insider owned 18,971 shares of the company’s stock, valued at $1,029,745.88. This represents a 5.75% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,994 shares of company stock valued at $216,794. Company insiders own 3.71% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its holdings in shares of Nektar Therapeutics by 1.4% in the first quarter. Acadian Asset Management LLC now owns 7,301,734 shares of the biopharmaceutical company’s stock worth $4,961,000 after buying an additional 100,645 shares in the last quarter. Gainplan LLC bought a new stake in Nektar Therapeutics in the 2nd quarter valued at $388,000. Nuveen LLC purchased a new stake in Nektar Therapeutics in the 1st quarter worth $222,000. Fred Alger Management LLC bought a new position in shares of Nektar Therapeutics during the 1st quarter valued at about $344,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Nektar Therapeutics by 14.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,007,928 shares of the biopharmaceutical company’s stock valued at $2,045,000 after purchasing an additional 380,967 shares during the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.

Nektar Therapeutics Company Profile

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.