TD Cowen Upgrades Nektar Therapeutics (NASDAQ:NKTR) to Strong-Buy

Nektar Therapeutics (NASDAQ:NKTR) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on NKTR. Piper Sandler upped their price target on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. JPMorgan Chase & Co. began coverage on Nektar Therapeutics in a report on Friday. They set a “neutral” rating and a $65.00 target price for the company. Canaccord Genuity Group began coverage on Nektar Therapeutics in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $153.00 price target for the company. Wedbush dropped their price target on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Finally, Wall Street Zen raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.50.

Nektar Therapeutics Stock Down 0.4%

Shares of Nektar Therapeutics stock opened at $73.69 on Monday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -11.00 and a beta of 1.14. The business has a fifty day simple moving average of $69.88 and a 200-day simple moving average of $70.83. Nektar Therapeutics has a fifty-two week low of $26.45 and a fifty-two week high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, beating the consensus estimate of ($1.97) by $0.74. The business had revenue of $10.13 million during the quarter, compared to analysts’ expectations of $10.43 million. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%. Analysts anticipate that Nektar Therapeutics will post -8.6 earnings per share for the current fiscal year.

Insider Activity at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 5,681 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the sale, the insider owned 9,756 shares of the company’s stock, valued at $682,920. This trade represents a 36.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 65,045 shares of the company’s stock, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 21,823 shares of company stock worth $1,380,558. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds have recently bought and sold shares of NKTR. BNP Paribas Financial Markets grew its stake in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 210 shares in the last quarter. KBC Group NV purchased a new stake in shares of Nektar Therapeutics in the first quarter worth approximately $52,000. Headlands Technologies LLC purchased a new stake in shares of Nektar Therapeutics in the second quarter worth approximately $65,000. State of Wyoming purchased a new stake in shares of Nektar Therapeutics in the first quarter worth approximately $67,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Nektar Therapeutics during the first quarter worth approximately $68,000. 75.88% of the stock is owned by hedge funds and other 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.