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

Nektar Therapeutics (NASDAQ:NKTR) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $149.6250.

Several equities analysts have recently commented on NKTR shares. Piper Sandler upped their price target on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. BTIG Research upped their price target on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. TD Cowen started coverage on shares of Nektar Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating for the company. Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Wedbush decreased their target price on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 11th.

Nektar Therapeutics Stock Performance

Nektar Therapeutics stock opened at $65.01 on Friday. The company has a 50-day simple moving average of $77.41 and a 200-day simple moving average of $62.11. The firm has a market capitalization of $2.20 billion, a P/E ratio of -7.72 and a beta of 1.24. Nektar Therapeutics has a one year low of $7.99 and a one year high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The firm had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. As a group, sell-side analysts forecast that Nektar Therapeutics will post -9.65 earnings per share for the current year.

Insider Transactions at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 444 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total value of $29,086.44. Following the completion of the transaction, the chief executive officer owned 75,045 shares in the company, valued at $4,916,197.95. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nektar Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NKTR. AQR Capital Management LLC grew its position in Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after buying an additional 2,807,595 shares in the last quarter. Farallon Capital Management LLC bought a new position in Nektar Therapeutics in the 3rd quarter valued at about $45,008,000. Two Seas Capital LP bought a new position in Nektar Therapeutics in the 4th quarter valued at about $31,506,000. Prosight Management LP bought a new position in Nektar Therapeutics in the 4th quarter valued at about $23,450,000. Finally, Two Sigma Investments LP grew its position in Nektar Therapeutics by 446.9% in the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock valued at $24,708,000 after buying an additional 354,842 shares in the last quarter. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Company Profile

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.