Nektar Therapeutics (NASDAQ:NKTR) Trading Up 6.9% – Still a Buy?

Nektar Therapeutics (NASDAQ:NKTR)’s share price traded up 6.9% during trading on Friday . The stock traded as high as $37.81 and last traded at $37.8150. 238,864 shares changed hands during trading, a decline of 64% from the average session volume of 667,710 shares. The stock had previously closed at $35.36.

Analyst Ratings Changes

A number of analysts recently commented on NKTR shares. B. Riley increased their price target on Nektar Therapeutics from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. HC Wainwright upped their target price on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. BTIG Research boosted their price target on Nektar Therapeutics from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, December 17th. Finally, Wall Street Zen downgraded 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 given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.83.

Nektar Therapeutics Stock Up 4.7%

The company has a 50-day moving average of $50.84 and a 200 day moving average of $43.98. The stock has a market capitalization of $753.19 million, a PE ratio of -4.65 and a beta of 1.31.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.85) by $1.00. The firm had revenue of $11.79 million during the quarter, compared to analysts’ expectations of $10.20 million. Nektar Therapeutics had a negative net margin of 192.87% and a negative return on equity of 456.53%. As a group, equities analysts predict that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jonathan Zalevsky sold 1,157 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total transaction of $62,801.96. Following the completion of the transaction, the insider directly owned 18,971 shares in the company, valued at $1,029,745.88. This represents a 5.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard W. Robin sold 2,207 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $119,795.96. Following the completion of the sale, the chief executive officer owned 54,245 shares of the company’s stock, valued at approximately $2,944,418.60. This trade represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,994 shares of company stock valued at $216,794 in the last ninety days. Corporate insiders own 5.25% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Nektar Therapeutics during the 4th quarter worth approximately $463,000. Tudor Investment Corp ET AL bought a new stake in Nektar Therapeutics in the 3rd quarter valued at about $309,000. FNY Investment Advisers LLC raised its stake in Nektar Therapeutics by 70.6% in the third quarter. FNY Investment Advisers LLC now owns 2,602 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 1,077 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Nektar Therapeutics during the third quarter worth $6,127,000. Finally, Armistice Capital LLC boosted its holdings in shares of Nektar Therapeutics by 116.1% during the 3rd quarter. Armistice Capital LLC now owns 268,000 shares of the biopharmaceutical company’s stock valued at $15,249,000 after acquiring an additional 144,000 shares in the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

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.