Analysts Set Nektar Therapeutics (NASDAQ:NKTR) PT at $150.00

Shares of Nektar Therapeutics (NASDAQ:NKTR) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $150.00.

A number of research firms have recently commented on NKTR. Piper Sandler increased their target price on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Wedbush reduced their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Canaccord Genuity Group initiated coverage on shares of Nektar Therapeutics in a research note on Wednesday, July 22nd. They set a “buy” rating and a $153.00 price target on the stock. Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd.

Insider Activity

In related news, insider Jonathan Zalevsky sold 5,681 shares of Nektar Therapeutics stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the transaction, the insider owned 9,756 shares in the company, valued at approximately $682,920. This trade represents a 36.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total value of $603,200.00. Following the sale, the chief executive officer directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 21,219 shares of company stock worth $1,337,082 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Several institutional investors have recently modified their holdings of NKTR. AQR Capital Management LLC raised its stake in shares of Nektar Therapeutics by 336.9% in the first 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 during the period. Two Seas Capital LP purchased a new position in shares of Nektar Therapeutics during the 4th quarter worth about $31,506,000. Prosight Management LP purchased a new position in shares of Nektar Therapeutics during the 4th quarter worth about $23,450,000. Two Sigma Investments LP boosted its stake in shares of Nektar Therapeutics by 446.9% during the 3rd 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 during the period. Finally, Armistice Capital LLC grew its holdings in Nektar Therapeutics by 122.4% during the 4th quarter. Armistice Capital LLC now owns 596,000 shares of the biopharmaceutical company’s stock valued at $25,199,000 after purchasing an additional 328,000 shares during the last quarter. 75.88% of the stock is owned by institutional investors.

Nektar Therapeutics Trading Up 1.3%

NASDAQ:NKTR opened at $73.64 on Wednesday. The company has a market capitalization of $2.49 billion, a P/E ratio of -10.99 and a beta of 1.14. Nektar Therapeutics has a 12 month low of $25.34 and a 12 month high of $109.00. The business’s 50-day moving average is $68.65 and its 200 day moving average is $69.78.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, beating the consensus estimate of ($1.97) by $0.74. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%.The business had revenue of $10.13 million during the quarter, compared to analysts’ expectations of $10.43 million. On average, research analysts forecast that Nektar Therapeutics will post -8.69 earnings per share for the current year.

Nektar Therapeutics Company Profile

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.