Nektar Therapeutics (NASDAQ:NKTR) Given “Buy” Rating at BTIG Research

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a research note issued on Friday, Benzinga reports. They presently have a $178.00 price target on the biopharmaceutical company’s stock. BTIG Research’s target price points to a potential upside of 211.95% from the stock’s current price.

NKTR has been the topic of a number of other research reports. TD Cowen raised shares of Nektar Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. JPMorgan Chase & Co. started coverage on shares of Nektar Therapeutics in a research note on Friday, August 21st. They set a “neutral” rating and a $65.00 target price on the stock. Wedbush decreased their target price on shares of Nektar Therapeutics from $80.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday. 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 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nektar Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $138.50.

Nektar Therapeutics Stock Down 3.9%

Shares of NASDAQ NKTR traded down $2.32 during midday trading on Friday, reaching $57.06. 2,564,823 shares of the company were exchanged, compared to its average volume of 1,044,375. The stock’s 50-day moving average price is $71.22 and its 200-day moving average price is $71.77. The stock has a market cap of $1.95 billion, a P/E ratio of -8.52 and a beta of 1.14. Nektar Therapeutics has a one year low of $33.40 and a one year high of $109.00.

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

Insider Buying and Selling at Nektar Therapeutics

In related news, insider Jonathan Zalevsky sold 5,681 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider owned 9,756 shares of the company’s stock, valued at $682,920. The trade was a 36.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Howard Robin sold 418 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total transaction of $30,087.64. Following the completion of the sale, the chief executive officer directly owned 54,627 shares in the company, valued at approximately $3,932,051.46. This represents a 0.76% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 6,285 shares of company stock worth $441,146. 2.50% of the stock is currently owned by insiders.

Institutional Trading of Nektar Therapeutics

A number of institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd boosted its position in Nektar Therapeutics by 53.2% during the second quarter. WINTON GROUP Ltd now owns 25,900 shares of the biopharmaceutical company’s stock valued at $1,808,000 after acquiring an additional 8,990 shares during the last quarter. Engineers Gate Manager LP boosted its position in Nektar Therapeutics by 55.9% during the second quarter. Engineers Gate Manager LP now owns 19,183 shares of the biopharmaceutical company’s stock valued at $1,339,000 after acquiring an additional 6,881 shares during the last quarter. Arizona State Retirement System boosted its position in Nektar Therapeutics by 27.3% during the second quarter. Arizona State Retirement System now owns 8,477 shares of the biopharmaceutical company’s stock valued at $592,000 after acquiring an additional 1,816 shares during the last quarter. Readystate Asset Management LP bought a new stake in Nektar Therapeutics during the second quarter valued at $5,942,000. Finally, HB Wealth Management LLC bought a new stake in Nektar Therapeutics during the second quarter valued at $650,000. Institutional investors own 75.88% of the company’s stock.

Key Stories Impacting Nektar Therapeutics

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

• Positive Sentiment: A U.S. jury found that Eli Lilly breached its implied covenant of good faith in connection with the rezpegaldesleukin collaboration, awarding Nektar approximately $90 million. The award could provide a meaningful cash benefit for Nektar, although potential appeals and collection timing remain considerations. Reuters article
• Positive Sentiment: BTIG reaffirmed its Buy rating and set a $178 price target, signaling substantial confidence in Nektar’s pipeline and potential upside following the legal verdict. Benzinga article

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that harness the body’s immune system to treat cancer and autoimmune and inflammatory diseases. The company’s research is centered on cytokine biology, immune-cell regulation and its proprietary polymer-conjugation technologies, which are designed to modify therapeutic compounds and potentially improve their duration, delivery or tolerability.

Nektar’s pipeline has included investigational therapies such as rezpegaldesleukin, an immune-modulating treatment being studied for autoimmune and inflammatory conditions.