Brokerages Set Nektar Therapeutics (NASDAQ:NKTR) Price Target at $4.08

Nektar Therapeutics (NASDAQ:NKTR) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $4.08.

NKTR has been the subject of several research reports. Piper Sandler started coverage on Nektar Therapeutics in a report on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price for the company. B. Riley began coverage on shares of Nektar Therapeutics in a research note on Wednesday, January 8th. They issued a “buy” rating and a $4.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $6.50 price target on shares of Nektar Therapeutics in a research note on Monday, January 13th.

Insider Buying and Selling

In other news, CEO Howard W. Robin sold 46,995 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $1.01, for a total value of $47,464.95. Following the completion of the transaction, the chief executive officer now directly owns 1,195,710 shares of the company’s stock, valued at $1,207,667.10. The trade was a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 51,115 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total value of $48,048.10. Following the sale, the insider now directly owns 326,904 shares in the company, valued at approximately $307,289.76. The trade was a 13.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,575 shares of company stock worth $149,878 in the last ninety days. Insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC raised its holdings in Nektar Therapeutics by 56.3% in the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 9,958 shares during the last quarter. Harvest Investment Services LLC acquired a new position in Nektar Therapeutics in the fourth quarter valued at $27,000. Valence8 US LP purchased a new position in Nektar Therapeutics during the third quarter worth about $34,000. Intech Investment Management LLC acquired a new stake in Nektar Therapeutics in the 3rd quarter worth about $41,000. Finally, XTX Topco Ltd purchased a new stake in Nektar Therapeutics in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Price Performance

Shares of NASDAQ NKTR opened at $0.98 on Friday. The business has a 50-day moving average of $0.92 and a two-hundred day moving average of $1.13. The company has a market capitalization of $181.25 million, a price-to-earnings ratio of -1.17 and a beta of 0.58. Nektar Therapeutics has a 1 year low of $0.63 and a 1 year high of $1.93.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.