Wedbush Cuts Nektar Therapeutics (NASDAQ:NKTR) Price Target to $80.00

Nektar Therapeutics (NASDAQ:NKTR) had its target price lowered by research analysts at Wedbush from $95.00 to $80.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Wedbush’s target price would suggest a potential downside of 2.31% from the stock’s current price.

NKTR has been the topic of a number of other research reports. BTIG Research boosted their target price on Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a report on Monday, April 20th. Oppenheimer reissued an “outperform” rating and issued a $140.00 target price on shares of Nektar Therapeutics in a report on Friday, March 13th. William Blair raised Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. TD Cowen assumed coverage on Nektar Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.63.

Nektar Therapeutics Stock Performance

Shares of NASDAQ:NKTR opened at $81.89 on Monday. The company has a 50-day simple moving average of $77.37 and a 200-day simple moving average of $60.96. Nektar Therapeutics has a one year low of $7.99 and a one year high of $109.00. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -9.73 and a beta of 1.24.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). The company had revenue of $10.86 million during the quarter, compared to analyst estimates of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 308.94%. As a group, research analysts forecast that Nektar Therapeutics will post -10.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Howard W. Robin sold 423 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total transaction of $30,879.00. Following the transaction, the chief executive officer owned 75,489 shares of the company’s stock, valued at $5,510,697. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 210 shares during the period. KBC Group NV acquired a new position in Nektar Therapeutics during the first quarter worth $52,000. Deutsche Bank AG grew its holdings in Nektar Therapeutics by 0.8% during the fourth quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company’s stock worth $3,837,000 after acquiring an additional 743 shares during the period. Bayforest Capital Ltd grew its holdings in Nektar Therapeutics by 51.3% during the fourth quarter. Bayforest Capital Ltd now owns 2,541 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 862 shares during the period. Finally, FNY Investment Advisers LLC grew its holdings in Nektar Therapeutics by 70.6% during the third quarter. FNY Investment Advisers LLC now owns 2,602 shares of the biopharmaceutical company’s stock worth $148,000 after acquiring an additional 1,077 shares during the period. 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.