Nektar Therapeutics (NASDAQ:NKTR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTR) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.08.

NKTR has been the topic of a number of recent research reports. B. Riley initiated coverage on Nektar Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $6.50 price target on shares of Nektar Therapeutics in a report on Monday, January 13th. Finally, Piper Sandler initiated coverage on shares of Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 price objective for the company.

Nektar Therapeutics Trading Down 3.6 %

Shares of NKTR stock opened at $0.68 on Friday. The firm’s 50 day moving average is $0.95 and its 200 day moving average is $1.15. The stock has a market capitalization of $124.69 million, a P/E ratio of -0.80 and a beta of 0.58. Nektar Therapeutics has a 12 month low of $0.63 and a 12 month high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.05. Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. The firm had revenue of $24.12 million for the quarter, compared to the consensus estimate of $15.54 million. During the same quarter in the prior year, the business posted ($0.19) earnings per share. On average, equities analysts predict that Nektar Therapeutics will post -0.72 EPS for the current year.

Insider Buying and Selling

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 51,115 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total value 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. The trade was a 13.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Andrew Wilson sold 33,402 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $0.90, for a total transaction of $30,061.80. Following the sale, the insider now owns 351,892 shares in the company, valued at approximately $316,702.80. This trade represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,575 shares of company stock worth $149,878. Insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors have recently modified their holdings of the company. Millennium Management LLC boosted its stake in Nektar Therapeutics by 56.1% in the second quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock worth $5,778,000 after buying an additional 1,674,924 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Nektar Therapeutics by 30.4% in the 3rd quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock worth $124,000 after acquiring an additional 22,285 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Nektar Therapeutics by 5.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 650,841 shares of the biopharmaceutical company’s stock valued at $846,000 after purchasing an additional 34,599 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Nektar Therapeutics during the 3rd quarter valued at $41,000. Finally, Valence8 US LP purchased a new position in Nektar Therapeutics in the 3rd quarter worth $34,000. 75.88% of the stock is currently owned by institutional investors.

Nektar Therapeutics Company Profile

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.