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

Shares of Nektar Therapeutics (NASDAQ:NKTR) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $149.6250.

NKTR has been the subject of several recent research reports. Piper Sandler lifted their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. B. Riley Financial reaffirmed a “buy” rating and issued a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a report on Monday, February 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. Wall Street Zen raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Wedbush lowered their price target on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 11th.

Insider Transactions at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 444 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was 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 directly owned 75,045 shares of the company’s stock, valued at $4,916,197.95. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 company insiders.

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 business. AQR Capital Management LLC boosted its holdings in Nektar Therapeutics by 336.9% in the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 2,807,595 shares in the last quarter. BVF Inc. IL boosted its holdings in Nektar Therapeutics by 22.2% in the fourth quarter. BVF Inc. IL now owns 1,559,595 shares of the biopharmaceutical company’s stock valued at $65,940,000 after purchasing an additional 283,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Nektar Therapeutics by 30.0% in the third quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company’s stock valued at $53,978,000 after purchasing an additional 219,155 shares in the last quarter. Farallon Capital Management LLC acquired a new position in Nektar Therapeutics in the third quarter valued at approximately $45,008,000. Finally, Two Seas Capital LP acquired a new position in Nektar Therapeutics in the fourth quarter valued at approximately $31,506,000. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Stock Performance

Shares of NKTR opened at $58.56 on Friday. The stock has a 50-day simple moving average of $77.02 and a 200-day simple moving average of $62.19. The stock has a market capitalization of $1.98 billion, a PE ratio of -6.95 and a beta of 1.14. Nektar Therapeutics has a 1 year low of $7.99 and a 1 year high of $109.00.

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 company had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. Analysts predict that Nektar Therapeutics will post -9.45 EPS for the current 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.