Nektar Therapeutics (NASDAQ:NKTR) Reaches New 12-Month High - Still a Buy?

Key Points

• Nektar hit a new 52-week high — the stock traded as high as $78.95 and last at $77.24, giving the company a market cap of about $2.21 billion.
• Analysts remain broadly positive with a consensus rating of "Moderate Buy" (9 Buys, 1 Hold, 1 Sell) and an average price target of $128.13.
• The company beat quarterly estimates (EPS -$1.78 vs. -$2.69; revenue $21.81M vs. $10.44M) but remains loss-making with a negative net margin (~297%) and negative ROE (~386%), and analysts project -$0.72 EPS for the current fiscal year.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s stock price hit a new 52-week high on Friday . The company traded as high as $78.95 and last traded at $77.2410, with a volume of 28224 shares trading hands. The stock had previously closed at $77.85.

Analysts Set New Price Targets

NKTR has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, March 29th. Oppenheimer reiterated an "outperform" rating and issued a $140.00 price target on shares of Nektar Therapeutics in a research report on Friday, March 13th. William Blair upgraded shares of Nektar Therapeutics from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 10th. Piper Sandler reissued an "overweight" rating and set a $105.00 target price on shares of Nektar Therapeutics in a research note on Monday, January 26th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Nektar Therapeutics in a research note on Wednesday, December 17th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.13.

Nektar Therapeutics Trading Down 1.1%

The business has a 50 day moving average of $66.90 and a 200-day moving average of $57.34. The firm has a market capitalization of $2.21 billion, a P/E ratio of -7.57 and a beta of 1.16.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, topping the consensus estimate of ($2.69) by $0.91. The company had revenue of $21.81 million during the quarter, compared to analysts' expectations of $10.44 million. Nektar Therapeutics had a negative net margin of 297.07% and a negative return on equity of 386.16%. On average, analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Activity at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 423 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $73.00, for a total transaction of $30,879.00. Following the completion of the transaction, the chief executive officer directly owned 75,489 shares of the company's stock, valued at $5,510,697. This trade represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 3,867 shares of the firm's stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $35.67, for a total transaction of $137,935.89. Following the transaction, the insider directly owned 21,354 shares of the company's stock, valued at $761,697.18. This represents a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,470 shares of company stock valued at $181,955 over the last ninety days. Company insiders own 5.25% of the company's stock.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in shares of Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 210 shares in the last quarter. Deutsche Bank AG raised its stake in Nektar Therapeutics by 0.8% in the fourth quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company's stock valued at $3,837,000 after buying an additional 743 shares during the period. Bayforest Capital Ltd raised its stake in Nektar Therapeutics by 51.3% in the fourth quarter. Bayforest Capital Ltd now owns 2,541 shares of the biopharmaceutical company's stock valued at $107,000 after buying an additional 862 shares during the period. FNY Investment Advisers LLC raised its stake in Nektar Therapeutics by 70.6% in the third quarter. FNY Investment Advisers LLC now owns 2,602 shares of the biopharmaceutical company's stock valued at $148,000 after buying an additional 1,077 shares during the period. Finally, XTX Topco Ltd raised its stake in Nektar Therapeutics by 22.0% in the fourth quarter. XTX Topco Ltd now owns 7,196 shares of the biopharmaceutical company's stock valued at $304,000 after buying an additional 1,299 shares during the period. 75.88% of the stock is owned by 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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