UBS Group Upgrades Nektar Therapeutics (NASDAQ:NKTR) to “Hold”

Nektar Therapeutics (NASDAQ:NKTR) was upgraded by research analysts at UBS Group to a “hold” rating in a research report issued on Monday, Zacks reports.

NKTR has been the topic of several other research reports. Canaccord Genuity Group began coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They issued a “buy” rating and a $153.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Friday, August 28th. HC Wainwright reissued a “buy” rating and issued a $185.00 price objective on shares of Nektar Therapeutics in a research report on Friday, October 2nd. Raymond James Financial initiated coverage on Nektar Therapeutics in a research note on Friday, October 9th. They issued a “market perform” rating on the stock. Finally, Leerink Partners began coverage on Nektar Therapeutics in a research note on Monday. They issued an “outperform” rating and a $130.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.67.

Nektar Therapeutics Stock Performance

Shares of NASDAQ NKTR opened at $37.92 on Monday. The company has a market capitalization of $1.29 billion, a P/E ratio of -5.66 and a beta of 1.26. Nektar Therapeutics has a 52-week low of $33.40 and a 52-week high of $109.00. The company’s 50 day moving average price is $65.23 and its 200-day moving average price is $69.41.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.74. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. The company had revenue of $10.13 million for the quarter, compared to analyst estimates of $10.43 million. Analysts forecast that Nektar Therapeutics will post -8.08 earnings per share for the current year.

Insider Buying and Selling at Nektar Therapeutics

In related news, CEO Howard Robin sold 418 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total transaction of $30,087.64. Following the transaction, the chief executive officer owned 54,627 shares in the company, valued at $3,932,051.46. The trade was a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.

Institutional Investors Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Seas Capital LP raised its holdings in shares of Nektar Therapeutics by 8.2% during the third quarter. Two Seas Capital LP now owns 3,345,978 shares of the biopharmaceutical company’s stock valued at $202,582,000 after purchasing an additional 253,744 shares during the period. WINTON GROUP Ltd grew its stake in shares of Nektar Therapeutics by 53.2% in the 2nd quarter. WINTON GROUP Ltd now owns 25,900 shares of the biopharmaceutical company’s stock valued at $1,808,000 after buying an additional 8,990 shares during the period. Engineers Gate Manager LP grew its stake in shares of Nektar Therapeutics by 55.9% in the 2nd quarter. Engineers Gate Manager LP now owns 19,183 shares of the biopharmaceutical company’s stock valued at $1,339,000 after buying an additional 6,881 shares during the period. Arizona State Retirement System increased its position in Nektar Therapeutics by 27.3% in the 2nd quarter. Arizona State Retirement System now owns 8,477 shares of the biopharmaceutical company’s stock valued at $592,000 after buying an additional 1,816 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in Nektar Therapeutics in the 2nd quarter valued at about $5,942,000. 75.88% of the stock is owned by institutional investors.

Nektar Therapeutics Company Profile

Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that use the body’s immune system to treat cancer and autoimmune diseases. The company’s research programs are based on proprietary drug-design and immunology technologies intended to improve the activity, targeting, or dosing of therapeutic agents.

Nektar’s pipeline has included NKTR-255, an investigational interleukin-15 receptor agonist designed to activate natural killer cells and support antitumor immune responses.