Nektar Therapeutics (NASDAQ:NKTR) Receives $111.83 Consensus Price Target from Brokerages

Shares of Nektar Therapeutics (NASDAQ:NKTR) have received an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $110.8571.

NKTR has been the topic of several recent research reports. Citigroup started coverage on shares of Nektar Therapeutics in a research note on Wednesday, November 26th. They set a “buy” rating and a $102.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 29th. HC Wainwright lifted their price objective 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 objective on Nektar Therapeutics from $100.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $105.00 target price on shares of Nektar Therapeutics in a research report on Monday.

Nektar Therapeutics Stock Performance

NASDAQ NKTR opened at $35.91 on Friday. Nektar Therapeutics has a 52 week low of $6.45 and a 52 week high of $66.92. The stock has a market capitalization of $730.41 million, a P/E ratio of -4.51 and a beta of 1.31. The stock has a fifty day moving average of $47.09 and a 200-day moving average of $44.91.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $11.79 million for the quarter, compared to analyst estimates of $10.20 million. Equities research analysts forecast that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Transactions at Nektar Therapeutics

In related news, insider Jonathan Zalevsky sold 3,867 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total value of $137,935.89. Following the completion of the transaction, the insider owned 21,354 shares of the company’s stock, valued at $761,697.18. This represents a 15.33% 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 stock in a transaction 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 completion of the transaction, the insider owned 21,585 shares of the company’s stock, valued at $1,171,633.80. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 7,861 shares of company stock valued at $354,730. Company insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its holdings 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 acquiring an additional 210 shares during the last quarter. Bayforest Capital Ltd increased its stake in Nektar Therapeutics by 51.3% in the fourth quarter. Bayforest Capital Ltd now owns 2,541 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 862 shares in the last quarter. FNY Investment Advisers LLC increased its position in Nektar Therapeutics by 70.6% in the 3rd quarter. FNY Investment Advisers LLC now owns 2,602 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 1,077 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Nektar Therapeutics by 1,741.2% during the third quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 1,480 shares in the last quarter. Finally, Compass Wealth Management LLC bought a new stake in Nektar Therapeutics during the 3rd quarter valued at $88,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

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.