Piper Sandler Issues Positive Forecast for Nektar Therapeutics (NASDAQ:NKTR) Stock Price

Nektar Therapeutics (NASDAQ:NKTR) had its price objective boosted by Piper Sandler from $105.00 to $192.00 in a report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. HC Wainwright lifted their target price on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Wedbush boosted their price target on shares of Nektar Therapeutics from $70.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. B. Riley Financial reissued a “buy” rating and issued a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. Finally, BTIG Research raised their price objective on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.50.

Nektar Therapeutics Stock Performance

Shares of NKTR stock opened at $81.89 on Friday. Nektar Therapeutics has a fifty-two week low of $7.99 and a fifty-two week high of $109.00. The firm has a market cap of $2.76 billion, a P/E ratio of -9.73 and a beta of 1.24. The business’s 50 day moving average price is $77.37 and its 200-day moving average price is $60.96.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results 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 business had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 308.94%. As a group, equities analysts predict that Nektar Therapeutics will post -10.02 EPS for the current year.

Insider Activity at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 423 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $73.00, for a total transaction of $30,879.00. Following the sale, the chief executive officer owned 75,489 shares in the company, valued at approximately $5,510,697. The trade was a 0.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NKTR. BNP Paribas Financial Markets boosted its stake in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 210 shares in the last quarter. KBC Group NV bought a new position in shares of Nektar Therapeutics during the first quarter valued at approximately $52,000. Headlands Technologies LLC purchased a new position in shares of Nektar Therapeutics during the second quarter valued at approximately $65,000. Integrated Wealth Concepts LLC purchased a new position in shares of Nektar Therapeutics during the first quarter valued at approximately $68,000. Finally, Quarry LP bought a new stake in shares of Nektar Therapeutics in the 4th quarter worth approximately $85,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Nektar Therapeutics

Here are the key news stories impacting Nektar Therapeutics this week:

• Positive Sentiment: Piper Sandler raised its price target on Nektar Therapeutics to $192 from $105 and kept an overweight rating, signaling stronger upside expectations for the stock.
• Positive Sentiment: William Blair reiterated a bullish view, citing Nektar’s strong cash position and late-stage autoimmune pipeline as reasons the risk/reward profile remains attractive.
• Positive Sentiment: Investors remain focused on REZPEG, which the company continues to advance in late-stage studies for autoimmune diseases and could be the main long-term value driver.
• Neutral Sentiment: In its first-quarter results, Nektar reported cash and investments of $731.6 million, up sharply from $245.8 million at year-end, improving its balance-sheet flexibility.
• Negative Sentiment: The company reported adjusted losses of $1.82 per share, missing Wall Street expectations, while revenue of $10.86 million also came in slightly below estimates.
• Negative Sentiment: A newly filed class action lawsuit against Nektar and certain officers adds legal overhang and may weigh on investor sentiment until there is more clarity.

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.