Nektar Therapeutics (NASDAQ:NKTR) Price Target Raised to $105.00

Key Points

• Research analysts at B. Riley raised Nektar Therapeutics' target price from $85.00 to $105.00, indicating a potential upside of 79.36% from its current price with a "buy" rating.
• Other analysts, including HC Wainwright and BTIG Research, have also issued "buy" ratings with target prices of $120.00 and $100.00, respectively.
• Nektar Therapeutics reported a quarterly earnings loss of ($2.95) per share, slightly better than analysts' expectations, alongside revenue of $11.18 million.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) had its target price hoisted by research analysts at B. Riley from $85.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. B. Riley's price objective suggests a potential upside of 79.36% from the stock's current price.

Other analysts also recently issued research reports about the stock. HC Wainwright raised their price target on shares of Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. BTIG Research reiterated a "buy" rating and issued a $100.00 target price on shares of Nektar Therapeutics in a research note on Friday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.67.

Nektar Therapeutics Stock Performance

Shares of NKTR stock traded down $0.35 during mid-day trading on Tuesday, reaching $58.54. 517,630 shares of the company were exchanged, compared to its average volume of 906,234. Nektar Therapeutics has a fifty-two week low of $6.45 and a fifty-two week high of $61.06. The company has a market capitalization of $1.11 billion, a P/E ratio of -6.63 and a beta of 1.05. The business's 50 day simple moving average is $31.59 and its 200 day simple moving average is $19.31.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share for the quarter, topping analysts' consensus estimates of ($3.13) by $0.18. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. The business had revenue of $11.18 million during the quarter, compared to the consensus estimate of $9.42 million. On average, analysts forecast that Nektar Therapeutics will post -0.72 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Howard W. Robin sold 6,666 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total value of $311,235.54. Following the transaction, the chief executive officer owned 49,342 shares in the company, valued at $2,303,777.98. This trade represents a 11.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Zalevsky sold 1,721 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $33.52, for a total value of $57,687.92. Following the completion of the transaction, the insider directly owned 17,462 shares in the company, valued at $585,326.24. The trade was a 8.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,178 shares of company stock valued at $938,776 over the last 90 days. 3.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nektar Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Algert Global LLC bought a new position in Nektar Therapeutics in the first quarter valued at approximately $33,000. US Bancorp DE boosted its stake in Nektar Therapeutics by 257.8% in the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 36,085 shares during the period. FNY Investment Advisers LLC acquired a new position in Nektar Therapeutics in the 2nd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in Nektar Therapeutics in the 1st quarter valued at $41,000. Finally, ProShare Advisors LLC raised its holdings in Nektar Therapeutics by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 50,277 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 16,543 shares in the last quarter. Institutional investors and hedge funds own 75.88% of the company's stock.

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.

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