Nektar Therapeutics (NASDAQ:NKTR) Receives "Buy" Rating from BTIG Research

Key Points

• BTIG Research reiterated a “Buy” rating on Nektar Therapeutics and set a $178 price target, implying 135.95% potential upside from the prior close.
• Analyst sentiment is broadly positive: Nektar has a consensus “Moderate Buy” rating and an average price target of $141.50, though ratings range from “Strong Buy” to “Sell.”
• Nektar reported a quarterly loss of $1.23 per share, beating estimates, but revenue of $10.13 million fell slightly short of expectations. Insiders sold 21,823 shares worth about $1.38 million over the past 90 days.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at BTIG Research in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $178.00 price target on the biopharmaceutical company's stock. BTIG Research's price target points to a potential upside of 135.95% from the company's previous close.

A number of other brokerages have also recently commented on NKTR. Canaccord Genuity Group began coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They issued a "buy" rating and a $153.00 target price on the stock. Wall Street Zen raised shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, May 17th. TD Cowen upgraded Nektar Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. JPMorgan Chase & Co. initiated coverage on Nektar Therapeutics in a research report on Friday, August 21st. They set a "neutral" rating and a $65.00 price objective for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Nektar Therapeutics in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.50.

Nektar Therapeutics Price Performance

Shares of NASDAQ:NKTR opened at $75.44 on Wednesday. Nektar Therapeutics has a 12 month low of $33.40 and a 12 month high of $109.00. The firm has a market capitalization of $2.58 billion, a P/E ratio of -11.26 and a beta of 1.14. The company's fifty day moving average price is $72.10 and its 200 day moving average price is $72.11.

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 analyst estimates of $10.43 million. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%. On average, sell-side analysts anticipate that Nektar Therapeutics will post -8.28 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jonathan Zalevsky sold 5,681 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the sale, the insider owned 9,756 shares in the company, valued at $682,920. This trade represents a 36.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard W. Robin sold 10,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the transaction, the chief executive officer directly owned 65,045 shares of the company's stock, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,823 shares of company stock worth $1,380,558 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds have recently bought and sold shares of NKTR. BNP Paribas Financial Markets raised its stake in shares of Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 210 shares during the last quarter. KBC Group NV acquired a new stake in Nektar Therapeutics during the 1st quarter valued at $52,000. Headlands Technologies LLC purchased a new position in Nektar Therapeutics during the second quarter worth $65,000. State of Wyoming purchased a new position in Nektar Therapeutics during the first quarter worth $67,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Nektar Therapeutics in the first quarter worth $68,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

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.

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