Nektar Therapeutics (NASDAQ:NKTR) Reaches New 12-Month High - Here's What Happened

Key Points

• Nektar Therapeutics (NASDAQ:NKTR) reached a new 52-week high of $65.79 amid trading on Friday, closing at $63.64 with significant trading volume of 1,114,938 shares.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with an average price target of $91.67, while B. Riley recently raised their price target from $85.00 to $105.00.
• The company reported earnings of ($2.95) per share for the last quarter, exceeding analysts' expectations, and had revenues of $11.18 million, compared to anticipated estimates of $9.42 million.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $65.79 and last traded at $63.64, with a volume of 1114938 shares trading hands. The stock had previously closed at $61.78.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. B. Riley boosted their price target on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. BTIG Research reissued a "buy" rating and issued a $100.00 price target on shares of Nektar Therapeutics in a research report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nektar Therapeutics in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.67.

Nektar Therapeutics Trading Up 3.0%

The stock's fifty day moving average is $47.55 and its two-hundred day moving average is $26.65. The firm has a market cap of $1.21 billion, a P/E ratio of -7.23 and a beta of 1.18.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its 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. The business had revenue of $11.18 million for the quarter, compared to analyst estimates of $9.42 million. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. On average, analysts forecast that Nektar Therapeutics will post -0.72 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Howard W. Robin sold 6,666 shares of the stock in a transaction on Tuesday, September 9th. The shares were 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 of the company's stock, valued at $2,303,777.98. This represents a 11.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Zalevsky sold 1,721 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $33.52, for a total transaction 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 a total of 25,178 shares of company stock worth $938,776 in the last three months. Insiders own 5.25% of the company's stock.

Hedge Funds Weigh In On Nektar Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. HB Wealth Management LLC bought a new position in shares of Nektar Therapeutics in the 3rd quarter worth $526,000. Moody Aldrich Partners LLC boosted its stake in shares of Nektar Therapeutics by 62.3% in the 3rd quarter. Moody Aldrich Partners LLC now owns 73,716 shares of the biopharmaceutical company's stock valued at $4,194,000 after purchasing an additional 28,304 shares in the last quarter. Simplify Asset Management Inc. boosted its stake in shares of Nektar Therapeutics by 67.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 87,174 shares of the biopharmaceutical company's stock valued at $4,960,000 after purchasing an additional 35,176 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at $65,000. Finally, Marshall Wace LLP purchased a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at $367,000. Institutional investors own 75.88% of the company's stock.

Nektar Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.