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

BTIG Research reiterated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research report report published on Monday morning, MarketBeat Ratings reports. BTIG Research currently has a $4.00 price target on the biopharmaceutical company’s stock.

Separately, Rodman & Renshaw began coverage on Nektar Therapeutics in a research note on Friday, June 28th. They issued a buy rating and a $2.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $2.33.

Nektar Therapeutics Stock Performance

NKTR opened at $1.30 on Monday. The company has a market cap of $239.23 million, a PE ratio of -1.41 and a beta of 0.60. The stock has a 50-day moving average of $1.25 and a 200-day moving average of $1.31. Nektar Therapeutics has a 52-week low of $0.41 and a 52-week high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.04). Nektar Therapeutics had a negative net margin of 190.09% and a negative return on equity of 133.64%. The company had revenue of $23.49 million for the quarter, compared to analyst estimates of $17.24 million. During the same quarter last year, the business earned ($0.27) EPS. On average, research analysts predict that Nektar Therapeutics will post -0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NKTR. Victory Capital Management Inc. bought a new stake in shares of Nektar Therapeutics during the second quarter valued at approximately $29,000. Values First Advisors Inc. acquired a new stake in Nektar Therapeutics during the second quarter worth $56,000. State Board of Administration of Florida Retirement System bought a new stake in Nektar Therapeutics in the 1st quarter valued at $63,000. SG Americas Securities LLC raised its stake in shares of Nektar Therapeutics by 63.0% in the 2nd quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock valued at $91,000 after buying an additional 28,338 shares in the last quarter. Finally, Candriam S.C.A. bought a new position in shares of Nektar Therapeutics during the 2nd quarter worth about $99,000. Institutional investors own 75.88% of the company’s stock.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.