Nektar Therapeutics (NASDAQ:NKTR) Upgraded by William Blair to Outperform Rating

Nektar Therapeutics (NASDAQ:NKTR) was upgraded by stock analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday.

Other equities research analysts have also issued research reports about the stock. HC Wainwright raised their price target on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Nektar Therapeutics in a research note on Monday, January 26th. Wall Street Zen lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nektar Therapeutics in a research note on Monday, December 29th. Finally, BTIG Research reiterated a “buy” rating and set a $118.00 target price on shares of Nektar Therapeutics in a report on Thursday, January 29th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.86.

Nektar Therapeutics Price Performance

NASDAQ NKTR traded up $16.05 during mid-day trading on Tuesday, reaching $53.12. 5,735,723 shares of the stock were exchanged, compared to its average volume of 851,189. The stock has a market cap of $1.08 billion, a P/E ratio of -6.63 and a beta of 1.34. Nektar Therapeutics has a one year low of $6.45 and a one year high of $66.92. The stock has a 50 day simple moving average of $43.32 and a 200-day simple moving average of $45.74.

Insider Buying and Selling

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 3,867 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total transaction of $137,935.89. Following the sale, the insider directly owned 21,354 shares in the company, valued at $761,697.18. This represents a 15.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Wilson sold 630 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total transaction of $34,196.40. Following the completion of the transaction, the insider owned 21,585 shares of the company’s stock, valued at approximately $1,171,633.80. This trade represents a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 7,861 shares of company stock valued at $354,730. Corporate insiders own 3.71% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its holdings 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. FNY Investment Advisers LLC purchased a new stake in shares of Nektar Therapeutics in the second quarter worth about $39,000. Compass Wealth Management LLC acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter worth approximately $88,000. Bessemer Group Inc. raised its holdings in shares of Nektar Therapeutics by 1,741.2% in the 3rd quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Nektar Therapeutics during the third quarter worth $96,000. 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.