Nektar Therapeutics (NASDAQ:NKTR) Given New $135.00 Price Target at HC Wainwright

Nektar Therapeutics (NASDAQ:NKTR) had its price objective raised by analysts at HC Wainwright from $120.00 to $135.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 167.86% from the stock’s previous close.

Several other brokerages have also weighed in on NKTR. Jefferies Financial Group reissued a “buy” rating and issued a $121.00 price objective (up previously from $99.00) on shares of Nektar Therapeutics in a report on Monday, November 24th. BTIG Research restated a “buy” rating and set a $100.00 target price on shares of Nektar Therapeutics in a research report on Friday, September 19th. Citigroup initiated coverage on shares of Nektar Therapeutics in a research note on Wednesday, November 26th. They issued a “buy” rating and a $102.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 8th. Finally, Wall Street Zen lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.83.

Nektar Therapeutics Stock Performance

NKTR stock traded down $2.90 during mid-day trading on Tuesday, hitting $50.40. The company had a trading volume of 3,258,306 shares, compared to its average volume of 886,831. The firm has a market cap of $1.03 billion, a PE ratio of -6.32 and a beta of 1.27. Nektar Therapeutics has a 12 month low of $6.45 and a 12 month high of $66.92. The stock’s fifty day moving average price is $58.35 and its two-hundred day moving average price is $39.65.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.85) by $1.00. Nektar Therapeutics had a negative net margin of 192.87% and a negative return on equity of 456.53%. The firm had revenue of $11.79 million during the quarter, compared to the consensus estimate of $10.20 million. Equities analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Insider Buying and Selling at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 2,207 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total transaction of $119,795.96. Following the transaction, the chief executive officer owned 54,245 shares in the company, valued at $2,944,418.60. The trade was a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Wilson sold 630 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $34,196.40. Following the transaction, the insider directly owned 21,585 shares of the company’s stock, valued at $1,171,633.80. The trade was a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,994 shares of company stock worth $216,794. 3.71% of the stock is currently owned by company insiders.

Institutional Trading of Nektar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its position in Nektar Therapeutics by 93.8% in 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. FNY Investment Advisers LLC bought a new stake in shares of Nektar Therapeutics in the 2nd quarter worth $39,000. Compass Wealth Management LLC bought a new stake in shares of Nektar Therapeutics in the 3rd quarter worth $88,000. Bessemer Group Inc. raised its stake in shares of Nektar Therapeutics by 1,741.2% in the third quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 1,480 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of Nektar Therapeutics during the third quarter valued at $96,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

About Nektar Therapeutics

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.