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

Key Points

• Nektar Therapeutics has a “Moderate Buy” consensus rating from 12 analysts: 10 buys, one hold, and one sell. The average 12-month price target is $150, with recent targets ranging from $80 to $185.
• NKTR shares opened at $75.50, while the company had a $2.55 billion market capitalization and traded between $22.50 and $109.00 over the previous 52 weeks.
• Insiders sold 21,862 shares worth approximately $1.38 million over the past three months, while institutional investors owned 75.88% of the stock.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $150.00.

Several brokerages have recently issued reports on NKTR. HC Wainwright increased their price objective on Nektar Therapeutics from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Wall Street Zen upgraded 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 research report on Tuesday, June 2nd. BTIG Research lifted their price objective on Nektar Therapeutics from $151.00 to $178.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Finally, Wedbush lowered their price objective on Nektar Therapeutics from $95.00 to $80.00 and set a "neutral" rating for the company in a research report on Monday, May 11th.

Nektar Therapeutics Stock Up 0.9%

Shares of NKTR opened at $75.50 on Wednesday. The company has a market cap of $2.55 billion, a P/E ratio of -8.97 and a beta of 1.14. Nektar Therapeutics has a fifty-two week low of $22.50 and a fifty-two week high of $109.00. The firm's 50 day moving average price is $67.00 and its 200 day moving average price is $68.47.

Insider Buying and Selling

In related news, CEO Howard W. Robin sold 10,000 shares of the business's stock in a transaction on 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 owned 65,045 shares in the company, valued at approximately $3,923,514.40. The trade was a 13.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan Zalevsky sold 5,681 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total transaction of $397,670.00. Following the transaction, the insider owned 9,756 shares of the company's stock, valued at approximately $682,920. The trade was a 36.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 21,862 shares of company stock worth $1,379,205. Insiders own 2.50% of the company's stock.

Institutional Trading of Nektar Therapeutics

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

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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