Nektar Therapeutics (NASDAQ:NKTR) Given Average Rating of “Buy” by Brokerages

Nektar Therapeutics (NASDAQ:NKTR) has been given an average recommendation of “Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $4.70.

A number of equities research analysts have weighed in on NKTR shares. B. Riley started coverage on shares of Nektar Therapeutics in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price target for the company. William Blair reiterated a “market perform” rating on shares of Nektar Therapeutics in a research report on Tuesday, February 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.50 price target on shares of Nektar Therapeutics in a research report on Tuesday, February 25th.

Insider Activity at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total value of $47,464.95. Following the completion of the transaction, the chief executive officer now owns 1,195,710 shares in the company, valued at approximately $1,207,667.10. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Zalevsky sold 51,115 shares of Nektar Therapeutics stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total transaction of $48,048.10. Following the completion of the transaction, the insider now owns 326,904 shares of the company’s stock, valued at $307,289.76. This trade represents a 13.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,586 shares of company stock worth $159,990. Corporate insiders own 3.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eventide Asset Management LLC grew its holdings in Nektar Therapeutics by 24.8% during the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock worth $12,220,000 after acquiring an additional 1,870,904 shares in the last quarter. Nantahala Capital Management LLC grew its holdings in Nektar Therapeutics by 90.0% during the 4th quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company’s stock worth $7,263,000 after acquiring an additional 3,700,000 shares in the last quarter. Woodline Partners LP grew its holdings in Nektar Therapeutics by 187.3% during the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company’s stock worth $4,626,000 after acquiring an additional 3,242,841 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Nektar Therapeutics by 17.5% during the 4th quarter. Renaissance Technologies LLC now owns 3,910,786 shares of the biopharmaceutical company’s stock worth $3,637,000 after acquiring an additional 583,153 shares in the last quarter. Finally, State Street Corp grew its holdings in Nektar Therapeutics by 11.9% during the 3rd quarter. State Street Corp now owns 3,345,733 shares of the biopharmaceutical company’s stock worth $4,349,000 after acquiring an additional 355,759 shares in the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Price Performance

Shares of NKTR stock opened at $0.82 on Wednesday. Nektar Therapeutics has a 12 month low of $0.65 and a 12 month high of $1.93. The company has a market capitalization of $151.11 million, a PE ratio of -0.98 and a beta of 0.65. The firm’s 50-day moving average is $0.89 and its two-hundred day moving average is $1.09.

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.