Nektar Therapeutics (NASDAQ:NKTR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTR) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $151.50.

NKTR has been the subject of several recent research reports. TD Cowen initiated coverage on Nektar Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating for the company. Piper Sandler lifted their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday. Wedbush lifted their price objective on Nektar Therapeutics from $70.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Wall Street Zen downgraded Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Oppenheimer restated an “outperform” rating and issued a $140.00 price objective on shares of Nektar Therapeutics in a report on Friday, March 13th.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 423 shares of Nektar Therapeutics stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total value of $30,879.00. Following the transaction, the chief executive officer owned 75,489 shares in the company, valued at $5,510,697. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. KBC Group NV purchased a new position in Nektar Therapeutics in the first quarter valued at about $52,000. Headlands Technologies LLC purchased a new position in Nektar Therapeutics in the second quarter valued at about $65,000. Integrated Wealth Concepts LLC purchased a new position in Nektar Therapeutics in the first quarter valued at about $68,000. Finally, Quarry LP purchased a new position in Nektar Therapeutics in the fourth quarter valued at about $85,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Trending Headlines about Nektar Therapeutics

Here are the key news stories impacting Nektar Therapeutics this week:

• Positive Sentiment: Piper Sandler raised its price target on Nektar Therapeutics to $192 from $105 and kept an overweight rating, signaling stronger upside expectations for the stock.
• Positive Sentiment: William Blair reiterated a bullish view, citing Nektar’s strong cash position and late-stage autoimmune pipeline as reasons the risk/reward profile remains attractive.
• Positive Sentiment: Investors remain focused on REZPEG, which the company continues to advance in late-stage studies for autoimmune diseases and could be the main long-term value driver.
• Neutral Sentiment: In its first-quarter results, Nektar reported cash and investments of $731.6 million, up sharply from $245.8 million at year-end, improving its balance-sheet flexibility.
• Negative Sentiment: The company reported adjusted losses of $1.82 per share, missing Wall Street expectations, while revenue of $10.86 million also came in slightly below estimates.
• Negative Sentiment: A newly filed class action lawsuit against Nektar and certain officers adds legal overhang and may weigh on investor sentiment until there is more clarity.

Nektar Therapeutics Price Performance

NKTR stock opened at $81.89 on Monday. The business has a 50-day moving average price of $77.37 and a 200 day moving average price of $60.96. The company has a market capitalization of $2.76 billion, a P/E ratio of -9.73 and a beta of 1.24. Nektar Therapeutics has a 1-year low of $7.99 and a 1-year high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The firm had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 308.94%. On average, analysts anticipate that Nektar Therapeutics will post -10.02 earnings per share for the current fiscal year.

Nektar Therapeutics Company Profile

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.