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

Nektar Therapeutics (NASDAQ:NKTR) has earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $119.8571.

A number of research firms recently commented on NKTR. BTIG Research upped their price objective on Nektar Therapeutics from $118.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. William Blair upgraded shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Citigroup assumed coverage on shares of Nektar Therapeutics in a research note on Wednesday, November 26th. They set a “buy” rating and a $102.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Nektar Therapeutics in a research note on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a research report on Monday, December 29th.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 2,207 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $119,795.96. Following the transaction, the chief executive officer owned 54,245 shares of the company’s stock, valued at approximately $2,944,418.60. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 3,867 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total transaction of $137,935.89. Following the completion of the transaction, the insider owned 21,354 shares of the company’s stock, valued at $761,697.18. This trade represents a 15.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 7,861 shares of company stock valued at $354,730. Company insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust bought a new position in shares of Nektar Therapeutics during the 3rd quarter worth approximately $13,269,000. Simplify Asset Management Inc. lifted its position in shares of Nektar Therapeutics by 67.6% in the third quarter. Simplify Asset Management Inc. now owns 87,174 shares of the biopharmaceutical company’s stock worth $4,960,000 after purchasing an additional 35,176 shares in the last quarter. Emerald Advisers LLC acquired a new position in Nektar Therapeutics during the third quarter worth $18,393,000. Moody Aldrich Partners LLC grew its position in Nektar Therapeutics by 62.3% in the third quarter. Moody Aldrich Partners LLC now owns 73,716 shares of the biopharmaceutical company’s stock valued at $4,194,000 after purchasing an additional 28,304 shares in the last quarter. Finally, Stonepine Capital Management LLC acquired a new stake in Nektar Therapeutics in the 2nd quarter valued at $1,297,000. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Stock Performance

Shares of Nektar Therapeutics stock opened at $73.82 on Wednesday. The firm has a fifty day moving average of $44.66 and a two-hundred day moving average of $47.65. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -9.26 and a beta of 1.34. Nektar Therapeutics has a 52 week low of $6.45 and a 52 week high of $74.89.

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.