Nektar Therapeutics (NASDAQ:NKTR) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts rate Nektar Therapeutics “Moderate Buy.” Of 16 analysts, 10 recommend buying, one strongly recommends buying, four rate it a hold and one recommends selling; the average 12-month price target is $130.67.
• Nektar’s stock opened at $37.22, near its 52-week low of $33.40 and well below its 52-week high of $109.00. The company remains unprofitable, with a negative P/E ratio and analysts forecasting a full-year loss of $8.08 per share.
• Institutional investors own 75.88% of the company, with several large funds increasing their positions. CEO Howard Robin sold a small portion of his holdings to cover tax obligations related to vested equity awards.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) has received an average recommendation of "Moderate Buy" from the sixteen analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $130.67.

Several equities analysts have weighed in on the company. Canaccord Genuity Group started coverage on Nektar Therapeutics in a report on Wednesday, July 22nd. They issued a "buy" rating and a $153.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Nektar Therapeutics in a report on Friday, August 28th. HC Wainwright restated a "buy" rating and issued a $185.00 price target on shares of Nektar Therapeutics in a research report on Friday, October 2nd. Wedbush dropped their price target on Nektar Therapeutics from $80.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, September 23rd. Finally, TD Cowen raised shares of Nektar Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th.

Insider Buying and Selling at Nektar Therapeutics

In other news, CEO Howard Robin sold 418 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT lifted its stake in shares of Nektar Therapeutics by 144.1% in the third quarter. Iridian Asset Management LLC CT now owns 94,697 shares of the biopharmaceutical company's stock worth $5,733,000 after acquiring an additional 55,895 shares during the period. Sterling Capital Management LLC boosted its holdings in Nektar Therapeutics by 507.2% in the third quarter. Sterling Capital Management LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $67,000 after acquiring an additional 918 shares during the last quarter. Two Seas Capital LP increased its position in Nektar Therapeutics by 8.2% during the 3rd quarter. Two Seas Capital LP now owns 3,345,978 shares of the biopharmaceutical company's stock valued at $202,582,000 after purchasing an additional 253,744 shares during the period. WINTON GROUP Ltd increased its position in Nektar Therapeutics by 53.2% during the 2nd quarter. WINTON GROUP Ltd now owns 25,900 shares of the biopharmaceutical company's stock valued at $1,808,000 after purchasing an additional 8,990 shares during the period. Finally, Engineers Gate Manager LP increased its position in Nektar Therapeutics by 55.9% during the 2nd quarter. Engineers Gate Manager LP now owns 19,183 shares of the biopharmaceutical company's stock valued at $1,339,000 after purchasing an additional 6,881 shares during the period. Institutional investors own 75.88% of the company's stock.

Nektar Therapeutics Stock Performance

Nektar Therapeutics stock opened at $37.22 on Monday. The stock has a 50-day simple moving average of $59.27 and a 200 day simple moving average of $67.43. The stock has a market capitalization of $1.27 billion, a P/E ratio of -5.56 and a beta of 1.26. Nektar Therapeutics has a 52 week low of $33.40 and a 52 week high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($1.23) EPS for the quarter, topping analysts' consensus estimates of ($1.97) by $0.74. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. The firm had revenue of $10.13 million during the quarter, compared to analysts' expectations of $10.43 million. Research analysts forecast that Nektar Therapeutics will post -8.08 earnings per share for the current year.

Nektar Therapeutics Company Profile

Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines for autoimmune, inflammatory and other serious diseases. The company uses its proprietary biologics and polymer-conjugation technologies to design therapies intended to improve immune-system regulation, drug activity and dosing convenience.

Nektar's pipeline includes rezpegaldesleukin, an investigational treatment designed to expand regulatory T cells and potentially restore immune tolerance in conditions such as atopic dermatitis, alopecia areata and other autoimmune diseases.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.