Nektar Therapeutics (NASDAQ:NKTR) Reaches New 1-Year High – Here’s Why

Nektar Therapeutics (NASDAQ:NKTR)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $78.81 and last traded at $76.77, with a volume of 186738 shares changing hands. The stock had previously closed at $71.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer restated an “outperform” rating and set a $140.00 price objective on shares of Nektar Therapeutics in a research report on Friday, March 13th. BTIG Research increased their price target on shares of Nektar Therapeutics from $118.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. B. Riley Financial restated a “buy” rating and issued a $150.00 price objective (up from $105.00) on shares of Nektar Therapeutics in a research report on Monday, February 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Nektar Therapeutics in a report on Monday, January 26th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, December 17th. Nine research analysts have rated the stock with a Buy rating, one has 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 a consensus target price of $128.13.

Nektar Therapeutics Price Performance

The firm’s 50-day moving average price is $62.95 and its 200 day moving average price is $56.53. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -7.55 and a beta of 1.16.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, March 12th. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.69) by $0.91. Nektar Therapeutics had a negative return on equity of 386.16% and a negative net margin of 297.07%.The firm had revenue of $21.81 million during the quarter, compared to the consensus estimate of $10.44 million. On average, analysts predict that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jonathan Zalevsky sold 3,867 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $35.67, for a total value of $137,935.89. Following the completion of the transaction, the insider directly owned 21,354 shares of the company’s stock, valued at $761,697.18. The trade was a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Howard W. Robin sold 423 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $73.00, for a total value of $30,879.00. Following the completion of the sale, the chief executive officer owned 75,489 shares in the company, valued at $5,510,697. This represents a 0.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 4,470 shares of company stock valued at $181,955. Insiders own 5.25% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 210 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Nektar Therapeutics during the second quarter worth approximately $65,000. Integrated Wealth Concepts LLC purchased a new stake in Nektar Therapeutics in the 1st quarter worth approximately $68,000. Quarry LP purchased a new stake in Nektar Therapeutics in the 4th quarter worth approximately $85,000. Finally, Compass Wealth Management LLC acquired a new position in Nektar Therapeutics in the 3rd quarter valued at $88,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

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.