Nektar Therapeutics (NASDAQ:NKTR) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Nektar Therapeutics has a “Moderate Buy” consensus rating from 13 analysts: nine buys, one strong buy, two holds and one sell. The average 12-month price target is $138.50.
• Recent analyst views remain mixed, with price targets ranging from $50 at Wedbush to $178 at BTIG Research; JPMorgan initiated coverage with a neutral rating and a $65 target.
• Nektar reported a quarterly loss of $1.23 per share, better than the expected $1.97 loss, while revenue of $10.13 million slightly missed estimates. The stock opened at $60.54, with a 52-week range of $33.40 to $109.00.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $138.50.

NKTR has been the topic of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nektar Therapeutics in a research report on Friday, August 28th. JPMorgan Chase & Co. began coverage on shares of Nektar Therapeutics in a research report on Friday, August 21st. They issued a "neutral" rating and a $65.00 price target for the company. BTIG Research reaffirmed a "buy" rating and set a $178.00 price target on shares of Nektar Therapeutics in a research note on Friday, September 25th. Wedbush cut their price target on shares of Nektar Therapeutics from $80.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, September 23rd. Finally, Canaccord Genuity Group assumed coverage on shares of Nektar Therapeutics in a research note on Wednesday, July 22nd. They issued a "buy" rating and a $153.00 price objective on the stock.

Nektar Therapeutics Stock Performance

Shares of NKTR stock opened at $60.54 on Thursday. Nektar Therapeutics has a fifty-two week low of $33.40 and a fifty-two week high of $109.00. The stock's fifty day moving average price is $70.54 and its two-hundred day moving average price is $71.43. The company has a market cap of $2.07 billion, a PE ratio of -9.04 and a beta of 1.14.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) EPS for the quarter, topping analysts' consensus estimates of ($1.97) by $0.74. The company had revenue of $10.13 million during the quarter, compared to analysts' expectations 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, equities analysts predict that Nektar Therapeutics will post -8.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Nektar Therapeutics news, CEO Howard Robin sold 418 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total value of $30,087.64. Following the sale, the chief executive officer owned 54,627 shares in the company, valued at approximately $3,932,051.46. The trade was a 0.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd lifted its stake in shares of Nektar Therapeutics by 53.2% in the second quarter. WINTON GROUP Ltd now owns 25,900 shares of the biopharmaceutical company's stock worth $1,808,000 after acquiring an additional 8,990 shares during the period. Engineers Gate Manager LP boosted its holdings in Nektar Therapeutics by 55.9% in the second quarter. Engineers Gate Manager LP now owns 19,183 shares of the biopharmaceutical company's stock valued at $1,339,000 after acquiring an additional 6,881 shares during the last quarter. Arizona State Retirement System increased its position in Nektar Therapeutics by 27.3% during the 2nd quarter. Arizona State Retirement System now owns 8,477 shares of the biopharmaceutical company's stock valued at $592,000 after purchasing an additional 1,816 shares during the period. Readystate Asset Management LP acquired a new stake in Nektar Therapeutics during the 2nd quarter valued at approximately $5,942,000. Finally, HB Wealth Management LLC bought a new position in Nektar Therapeutics during the 2nd quarter worth approximately $650,000. 75.88% of the stock is currently owned by institutional investors.

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that harness the body's immune system to treat cancer and autoimmune and inflammatory diseases. The company's research is centered on cytokine biology, immune-cell regulation and its proprietary polymer-conjugation technologies, which are designed to modify therapeutic compounds and potentially improve their duration, delivery or tolerability.

Nektar's pipeline has included investigational therapies such as rezpegaldesleukin, an immune-modulating treatment being studied for autoimmune and inflammatory conditions.

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