Nektar Therapeutics (NASDAQ:NKTR) Stock Price Up 6.9% – Time to Buy?

Nektar Therapeutics (NASDAQ:NKTR)’s stock price traded up 6.9% during trading on Friday . The stock traded as high as $37.81 and last traded at $37.8150. 238,864 shares changed hands during trading, a decline of 64% from the average session volume of 667,710 shares. The stock had previously closed at $35.36.

Analyst Ratings Changes

NKTR has been the topic of a number of research analyst reports. BTIG Research increased their target price on Nektar Therapeutics from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 29th. Citigroup initiated coverage on shares of Nektar Therapeutics in a report on Wednesday, November 26th. They set a “buy” rating and a $102.00 target price for the company. B. Riley raised their price objective on Nektar Therapeutics from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, HC Wainwright increased their target price on Nektar Therapeutics from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Nektar Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $111.83.

Nektar Therapeutics Price Performance

The company has a market cap of $753.19 million, a PE ratio of -4.65 and a beta of 1.31. The business’s 50 day moving average is $50.84 and its 200-day moving average is $43.98.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results 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. Nektar Therapeutics had a negative return on equity of 456.53% and a negative net margin of 192.87%.The company had revenue of $11.79 million for the quarter, compared to analysts’ expectations of $10.20 million. As a group, sell-side analysts predict that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark Andrew Wilson sold 630 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $34,196.40. Following the sale, the insider owned 21,585 shares in the company, valued at approximately $1,171,633.80. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Howard W. Robin sold 2,207 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total transaction of $119,795.96. Following the sale, the chief executive officer directly owned 54,245 shares in the company, valued at $2,944,418.60. This trade represents a 3.91% 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 worth $216,794 in the last three months. 5.25% of the stock is owned by insiders.

Institutional Trading of Nektar Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of NKTR. AQR Capital Management LLC grew its stake in Nektar Therapeutics by 336.9% during the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after acquiring an additional 2,807,595 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Nektar Therapeutics by 30.0% in the third quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company’s stock valued at $53,978,000 after acquiring an additional 219,155 shares during the period. Farallon Capital Management LLC acquired a new stake in Nektar Therapeutics during the third quarter worth about $45,008,000. Two Sigma Investments LP raised its position in Nektar Therapeutics by 446.9% in the third quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock worth $24,708,000 after purchasing an additional 354,842 shares in the last quarter. Finally, 22NW LP lifted its position in shares of Nektar Therapeutics by 126.6% during the 3rd quarter. 22NW LP now owns 331,115 shares of the biopharmaceutical company’s stock worth $18,840,000 after buying an additional 185,000 shares during the period. Institutional investors and hedge funds 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.