Nektar Therapeutics (NASDAQ:NKTR) Given New $120.00 Price Target at HC Wainwright

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) had its price target boosted by equities researchers at HC Wainwright to $120.00 in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's price objective indicates a potential upside of 390.80% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. Jefferies Financial Group raised Nektar Therapeutics from a "hold" rating to a "buy" rating and lifted their target price for the stock from $15.00 to $30.00 in a research report on Friday, April 11th. William Blair reissued a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. Finally, Oppenheimer upgraded Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $90.00 price objective for the company in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.43.

Nektar Therapeutics Trading Up 156.3%

Shares of NKTR traded up $14.91 during midday trading on Tuesday, reaching $24.45. 36,789,649 shares of the company were exchanged, compared to its average volume of 294,978. Nektar Therapeutics has a 1-year low of $6.48 and a 1-year high of $27.41. The stock has a 50-day moving average price of $10.09 and a 200-day moving average price of $11.84. The company has a market cap of $303.42 million, a price-to-earnings ratio of -2.55 and a beta of 0.55.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) EPS for the quarter, missing the consensus estimate of ($2.70) by ($0.60). The company had revenue of $10.46 million for the quarter, compared to analyst estimates of $15.61 million. Nektar Therapeutics had a negative return on equity of 329.54% and a negative net margin of 152.49%. During the same period last year, the firm posted ($2.70) earnings per share. Equities research analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Institutional Trading of Nektar Therapeutics

Institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its stake in Nektar Therapeutics by 46.8% during the first quarter. Voya Investment Management LLC now owns 266,773 shares of the biopharmaceutical company's stock valued at $181,000 after buying an additional 85,094 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Nektar Therapeutics by 23.3% during the 1st quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company's stock valued at $151,000 after purchasing an additional 41,948 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Nektar Therapeutics by 1.4% in the 1st quarter. Acadian Asset Management LLC now owns 7,301,734 shares of the biopharmaceutical company's stock worth $4,961,000 after purchasing an additional 100,645 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of Nektar Therapeutics in the 1st quarter worth approximately $344,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Nektar Therapeutics in the 1st quarter worth approximately $68,000. 75.88% of the stock is owned by institutional investors and hedge funds.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.