Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s stock had its "buy" rating reissued by research analysts at BTIG Research in a note issued to investors on Friday, Benzinga reports. They presently have a $178.00 price objective on the biopharmaceutical company's stock. BTIG Research's price target would indicate a potential upside of 331.88% from the company's previous close.
A number of other research firms have also recently weighed in on NKTR. Wedbush cut their target price on Nektar Therapeutics from $80.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nektar Therapeutics in a report on Friday, August 28th. Raymond James Financial started coverage on Nektar Therapeutics in a research note on Friday. They set a "market perform" rating for the company. TD Cowen raised shares of Nektar Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. Finally, Canaccord Genuity Group began coverage on Nektar Therapeutics in a research note on Wednesday, July 22nd. They issued a "buy" rating and a $153.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Nektar Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $138.50.
View Our Latest Research Report on NKTR
Nektar Therapeutics Stock Up 1.0%
NASDAQ NKTR traded up $0.42 on Friday, reaching $41.22. The stock had a trading volume of 440,663 shares, compared to its average volume of 1,100,499. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.15 and a beta of 1.26. The stock has a fifty day moving average price of $67.13 and a two-hundred day moving average price of $70.12. Nektar Therapeutics has a 12-month low of $33.40 and a 12-month high of $109.00.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.97) by $0.74. The company had revenue of $10.13 million for the quarter, compared to the consensus estimate of $10.43 million. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. Sell-side analysts forecast that Nektar Therapeutics will post -8.16 earnings per share for the current fiscal year.
Insider Activity
In related news, CEO Howard Robin sold 418 shares of Nektar Therapeutics stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total transaction of $30,087.64. Following the sale, the chief executive officer directly owned 54,627 shares in the company, valued at approximately $3,932,051.46. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.50% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Nektar Therapeutics
Several hedge funds have recently made changes to their positions in NKTR. KBC Group NV purchased a new stake in shares of Nektar Therapeutics during the 1st quarter valued at $52,000. State of Wyoming bought a new stake in Nektar Therapeutics in the first quarter worth $67,000. Great Lakes Advisors LLC purchased a new stake in Nektar Therapeutics during the second quarter valued at about $206,000. Allspring Global Investments Holdings LLC bought a new position in shares of Nektar Therapeutics during the first quarter valued at about $209,000. Finally, Pale Fire Capital SE bought a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at about $234,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.
Nektar Therapeutics Company Profile
(
Get Free Report)
Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that use the body's immune system to treat cancer and autoimmune diseases. The company's research programs are based on proprietary drug-design and immunology technologies intended to improve the activity, targeting, or dosing of therapeutic agents.
Nektar's pipeline has included NKTR-255, an investigational interleukin-15 receptor agonist designed to activate natural killer cells and support antitumor immune responses.
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