Nektar Therapeutics (NASDAQ:NKTR) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Nektar Therapeutics has a consensus “Moderate Buy” rating from 11 analysts, with nine buy ratings, one hold, and one sell. The average 1-year price target is $149.63.
• The stock opened at $68.26 and has traded between $21.02 and $109.00 over the past 52 weeks. The company has a market value of about $2.31 billion.
• Recent earnings showed a loss of $1.82 per share, wider than expected, though revenue slightly beat estimates at $10.86 million. Insiders have also been selling shares, while institutional ownership remains high at 75.88%.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $149.6250.

NKTR has been the subject of a number of research reports. Wall Street Zen raised shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, May 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. HC Wainwright upped their price objective on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Wedbush lowered their price objective on shares of Nektar Therapeutics from $95.00 to $80.00 and set a "neutral" rating for the company in a research report on Monday, May 11th. Finally, Citigroup increased their price objective on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st.

Nektar Therapeutics Stock Performance

Nektar Therapeutics stock opened at $68.26 on Friday. Nektar Therapeutics has a 52 week low of $21.02 and a 52 week high of $109.00. The stock has a market capitalization of $2.31 billion, a P/E ratio of -8.11 and a beta of 1.13. The stock has a fifty day moving average of $66.08 and a 200-day moving average of $64.53.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The business had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. On average, research analysts forecast that Nektar Therapeutics will post -9.37 earnings per share for the current year.

Insider Buying and Selling at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 5,681 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the transaction, the insider directly owned 9,756 shares in the company, valued at approximately $682,920. This represents a 36.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 10,000 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total value of $603,200.00. Following the sale, the chief executive officer directly owned 65,045 shares in the company, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,862 shares of company stock valued at $1,379,205 over the last quarter. Company insiders own 2.50% of the company's stock.

Institutional Trading of Nektar Therapeutics

A number of hedge funds have recently made changes to their positions in NKTR. AQR Capital Management LLC lifted its stake in shares of Nektar Therapeutics by 336.9% in the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company's stock worth $2,463,000 after acquiring an additional 2,807,595 shares during the period. Two Seas Capital LP acquired a new stake in Nektar Therapeutics during the 4th quarter valued at approximately $31,506,000. Prosight Management LP acquired a new stake in Nektar Therapeutics during the 4th quarter valued at approximately $23,450,000. Two Sigma Investments LP raised its holdings in Nektar Therapeutics by 446.9% during the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company's stock worth $24,708,000 after purchasing an additional 354,842 shares during the last quarter. Finally, Armistice Capital LLC raised its holdings in Nektar Therapeutics by 122.4% during the 4th quarter. Armistice Capital LLC now owns 596,000 shares of the biopharmaceutical company's stock worth $25,199,000 after purchasing an additional 328,000 shares during the last quarter. 75.88% of the stock is owned by institutional investors and hedge funds.

About Nektar Therapeutics

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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