Nektar Therapeutics (NASDAQ:NKTR) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report issued on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $153.00 price target on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 122.80% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. HC Wainwright raised their price objective on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Piper Sandler increased their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup raised their target price on Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.00.

Nektar Therapeutics Trading Up 5.9%

Shares of NKTR opened at $68.67 on Wednesday. The firm’s 50-day moving average price is $65.60 and its 200-day moving average price is $65.03. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -8.16 and a beta of 1.13. Nektar Therapeutics has a 1-year low of $21.02 and a 1-year high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates 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 85.40% and a negative net margin of 284.18%. On average, research analysts forecast that Nektar Therapeutics will post -9.37 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Nektar Therapeutics

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 210 shares during the period. KBC Group NV purchased a new stake in shares of Nektar Therapeutics in the first quarter valued at $52,000. Headlands Technologies LLC bought a new stake in shares of Nektar Therapeutics in the 2nd quarter worth about $65,000. State of Wyoming bought a new stake in shares of Nektar Therapeutics in the 1st quarter worth about $67,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Nektar Therapeutics during the 1st quarter worth about $68,000. 75.88% of the stock is currently 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.