Piper Sandler Boosts Nektar Therapeutics (NASDAQ:NKTR) Price Target to $192.00

Nektar Therapeutics (NASDAQ:NKTR) had its price objective hoisted by stock analysts at Piper Sandler from $105.00 to $192.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price objective points to a potential upside of 133.48% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. HC Wainwright raised their price target on Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Wedbush boosted their price target on Nektar Therapeutics from $70.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Finally, TD Cowen began coverage on shares of Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating for the company. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.50.

Nektar Therapeutics Stock Down 1.4%

Shares of Nektar Therapeutics stock traded down $1.14 on Friday, hitting $82.24. 237,000 shares of the company traded hands, compared to its average volume of 1,099,879. Nektar Therapeutics has a 12-month low of $7.99 and a 12-month high of $109.00. The company has a market cap of $2.77 billion, a PE ratio of -8.06 and a beta of 1.24. The company has a 50-day moving average price of $77.37 and a 200 day moving average price of $60.96.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (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 analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative return on equity of 380.32% and a negative net margin of 297.07%. Equities research analysts anticipate that Nektar Therapeutics will post -10.02 EPS for the current year.

Insider Activity at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 423 shares of Nektar Therapeutics stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total value of $30,879.00. Following the transaction, the chief executive officer directly owned 75,489 shares in the company, valued at approximately $5,510,697. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of Nektar Therapeutics by 336.9% during the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after buying an additional 2,807,595 shares during the last quarter. Farallon Capital Management LLC bought a new position in Nektar Therapeutics during the third quarter worth $45,008,000. Two Seas Capital LP bought a new position in Nektar Therapeutics during the fourth quarter worth $31,506,000. Prosight Management LP acquired a new position in Nektar Therapeutics during the 4th quarter valued at $23,450,000. Finally, Two Sigma Investments LP raised its stake in Nektar Therapeutics by 446.9% during the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock valued at $24,708,000 after purchasing an additional 354,842 shares during the last quarter. 75.88% of the stock is owned by 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.