Nektar Therapeutics (NASDAQ:NKTR) Earns “Buy” Rating from BTIG Research

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $178.00 target price on the biopharmaceutical company’s stock. BTIG Research’s target price indicates a potential upside of 135.95% from the stock’s previous close.

Several other analysts also recently issued reports on NKTR. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Friday, August 28th. TD Cowen raised shares of Nektar Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. JPMorgan Chase & Co. started coverage on shares of Nektar Therapeutics in a report on Friday, August 21st. They set a “neutral” rating and a $65.00 price target for the company. Finally, Canaccord Genuity Group started 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nektar Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $141.50.

Nektar Therapeutics Price Performance

NKTR opened at $75.44 on Wednesday. Nektar Therapeutics has a 12 month low of $33.40 and a 12 month high of $109.00. The business has a 50-day moving average of $72.10 and a two-hundred day moving average of $72.11. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -11.26 and a beta of 1.14.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.97) by $0.74. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. The business had revenue of $10.13 million for the quarter, compared to analysts’ expectations of $10.43 million. Equities research analysts anticipate that Nektar Therapeutics will post -8.28 earnings per share for the current year.

Insider Buying and Selling at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 5,681 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the sale, the insider owned 9,756 shares of the company’s stock, valued at approximately $682,920. The trade was a 36.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard Robin sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the sale, the chief executive officer directly owned 65,045 shares of the company’s stock, valued at $3,923,514.40. The trade was a 13.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,823 shares of company stock valued at $1,380,558. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Nektar Therapeutics by 93.8% during the 3rd 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. KBC Group NV bought a new stake in shares of Nektar Therapeutics during the 1st quarter valued at about $52,000. Deutsche Bank AG lifted its holdings in Nektar Therapeutics by 0.8% in the fourth quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company’s stock worth $3,837,000 after acquiring an additional 743 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in Nektar Therapeutics by 15.8% in the second quarter. FNY Investment Advisers LLC now owns 5,500 shares of the biopharmaceutical company’s stock valued at $383,000 after acquiring an additional 750 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Nektar Therapeutics during the 1st quarter worth approximately $67,000. 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.