Nektar Therapeutics (NASDAQ:NKTR) Reaches New 52-Week High - Time to Buy?

Key Points

• Nektar Therapeutics (NASDAQ:NKTR) shares hit a new 52-week high of $59.80 during mid-day trading on Tuesday, with a strong volume of 17,108 shares.
• Several analysts have upgraded their ratings on Nektar, with BTIG setting a target price of $100.00 and B. Riley raising it to $85.00, indicating a strong consensus rating of "Moderate Buy."
• CEO Howard W. Robin sold 6,666 shares at an average price of $46.69, reflecting an 11.90% decrease in his position, as insiders have sold a total of 25,178 shares recently.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $59.80 and last traded at $58.94, with a volume of 17108 shares changing hands. The stock had previously closed at $58.89.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NKTR shares. BTIG Research reaffirmed a "buy" rating and set a $100.00 target price on shares of Nektar Therapeutics in a research report on Friday. B. Riley upped their target price on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, HC Wainwright upped their target price on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Nektar Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

Nektar Therapeutics Stock Performance

The stock has a market cap of $1.15 billion, a P/E ratio of -6.92 and a beta of 1.05. The business has a 50 day simple moving average of $31.59 and a 200-day simple moving average of $19.31.

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

Insider Buying and Selling at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 6,666 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total transaction of $311,235.54. Following the completion of the transaction, the chief executive officer owned 49,342 shares in the company, valued at approximately $2,303,777.98. This represents a 11.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $57,687.92. Following the transaction, the insider owned 17,462 shares of the company's stock, 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 have sold a total of 25,178 shares of company stock valued at $938,776 in the last quarter. 3.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Algert Global LLC bought a new position in shares of Nektar Therapeutics during the 1st quarter worth $33,000. US Bancorp DE lifted its holdings in Nektar Therapeutics by 257.8% during the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 36,085 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Nektar Therapeutics during the 2nd quarter worth about $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Nektar Therapeutics during the 1st quarter worth about $41,000. Finally, ProShare Advisors LLC lifted its holdings in Nektar Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 50,277 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 16,543 shares in the last quarter. 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.

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