Brokerages Set Nektar Therapeutics (NASDAQ:NKTR) Target Price at $149.63

Nektar Therapeutics (NASDAQ:NKTR) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $149.6250.

A number of analysts have issued reports on NKTR shares. Oppenheimer reissued an “outperform” rating and issued a $140.00 target price on shares of Nektar Therapeutics in a research report on Friday, March 13th. Citigroup boosted their target price on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Wedbush cut their target price on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Piper Sandler boosted their price target on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd.

Nektar Therapeutics Stock Up 2.7%

Shares of NASDAQ NKTR opened at $65.39 on Tuesday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -7.77 and a beta of 1.14. Nektar Therapeutics has a 52-week low of $21.02 and a 52-week high of $109.00. The business’s 50 day moving average is $71.16 and its two-hundred day moving average is $62.48.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). The firm had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. Analysts anticipate that Nektar Therapeutics will post -9.45 EPS for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total value of $603,200.00. Following the completion of the transaction, the chief executive officer owned 65,045 shares in the company, valued at $3,923,514.40. The trade was a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jonathan Zalevsky sold 5,538 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $60.71, for a total transaction of $336,211.98. Following the completion of the transaction, the insider owned 15,437 shares of the company’s stock, valued at approximately $937,180.27. This trade represents a 26.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,181 shares of company stock valued at $981,535. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in shares of Nektar Therapeutics by 93.8% in 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 acquired a new position in shares of Nektar Therapeutics in the first quarter worth $52,000. State of Wyoming acquired a new position in shares of Nektar Therapeutics during the first quarter worth $67,000. Quarry LP acquired a new position in shares of Nektar Therapeutics during the fourth quarter worth $85,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Nektar Therapeutics during the fourth quarter worth $92,000. 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.