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

Nektar Therapeutics (NASDAQ:NKTR) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $150.00.

Several research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. HC Wainwright upped their price target on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 20th. BTIG Research raised their price target on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Canaccord Genuity Group started coverage on shares of Nektar Therapeutics in a report on Wednesday. They set a “buy” rating and a $153.00 price target on the stock.

Insider Activity

In other news, insider Jonathan Zalevsky sold 5,681 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total transaction of $397,670.00. Following the completion of the transaction, the insider directly owned 9,756 shares in the company, valued at $682,920. This trade represents a 36.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Howard W. Robin sold 10,000 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total value of $603,200.00. Following the completion of the transaction, the chief executive officer directly owned 65,045 shares in the company, valued at approximately $3,923,514.40. This represents a 13.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,862 shares of company stock worth $1,379,205 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NKTR. BNP Paribas Financial Markets boosted its stake in shares of Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. KBC Group NV bought a new position in shares of Nektar Therapeutics in the 1st quarter worth about $52,000. Headlands Technologies LLC bought a new position in shares of Nektar Therapeutics in the 2nd quarter worth about $65,000. State of Wyoming acquired a new position in shares of Nektar Therapeutics in the 1st quarter valued at about $67,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Nektar Therapeutics in the 1st quarter valued at about $68,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Stock Up 0.9%

NASDAQ NKTR opened at $69.32 on Friday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -8.23 and a beta of 1.13. Nektar Therapeutics has a twelve month low of $21.02 and a twelve month high of $109.00. The business’s fifty day moving average is $65.47 and its 200 day moving average is $65.22.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The firm had revenue of $10.86 million during the quarter, compared to analyst estimates of $10.69 million. On average, research analysts anticipate that Nektar Therapeutics will post -9.37 earnings per share for the current fiscal year.

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.