Nektar Therapeutics (NASDAQ:NKTR) Price Target Raised to $192.00 at Piper Sandler

Key Points

• Piper Sandler raised its price target on Nektar from $105 to $192 and kept an "overweight" rating, implying roughly a 133% upside from the prior close.
• Analyst sentiment is broadly positive—nine Buys, one Hold and one Sell—with an average target of $151.50, and other firms (HC Wainwright, B. Riley, TD Cowen) have recently raised targets or initiated coverage.
• Despite the bullish outlook, NKTR shares trade around $82.24 after reporting a quarterly EPS miss (‑$1.82 vs. ‑$1.58), with negative margins and ROE and a full‑year EPS forecast of about ‑10.02.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) had its price target hoisted by stock analysts at Piper Sandler from $105.00 to $192.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the biopharmaceutical company's stock. Piper Sandler's price target would indicate a potential upside of 133.48% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. HC Wainwright upped their price target on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a "buy" rating in a report on Monday, April 20th. B. Riley Financial reiterated a "buy" rating and issued a $150.00 target price (up from $105.00) on shares of Nektar Therapeutics in a report on Monday, February 23rd. William Blair raised shares of Nektar Therapeutics from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Finally, TD Cowen started coverage on Nektar Therapeutics in a report on Tuesday, March 17th. They issued a "buy" rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $151.50.

Nektar Therapeutics Price Performance

Shares of NKTR traded down $1.14 during midday trading on Friday, reaching $82.24. The stock had a trading volume of 237,000 shares, compared to its average volume of 1,099,879. Nektar Therapeutics has a 52 week low of $7.99 and a 52 week high of $109.00. The firm's 50 day moving average price is $77.37 and its 200-day moving average price is $60.96. The company has a market capitalization of $2.77 billion, a P/E ratio of -8.06 and a beta of 1.24.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its earnings results 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 firm had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative net margin of 297.07% and a negative return on equity of 380.32%. On average, equities analysts forecast that Nektar Therapeutics will post -10.02 earnings per share for the current year.

Insider Activity

In other news, CEO Howard W. Robin sold 423 shares of the firm's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total value of $30,879.00. Following the completion of the sale, the chief executive officer owned 75,489 shares of the company's stock, valued at $5,510,697. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 210 shares during the period. KBC Group NV acquired a new position in shares of Nektar Therapeutics in the 1st quarter valued at about $52,000. Headlands Technologies LLC purchased a new stake in shares of Nektar Therapeutics in the second quarter worth approximately $65,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Nektar Therapeutics in the first quarter worth approximately $68,000. Finally, Quarry LP acquired a new stake in shares of Nektar Therapeutics during the fourth quarter worth approximately $85,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Nektar Therapeutics Company Profile

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.

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.