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

Key Points

• Nektar Therapeutics' shares reached a new **52-week high** at $61.79, closing at **$60.78** with a trading volume of **299,415 shares**.
• Several brokerages, including B. Riley and HC Wainwright, have recently given the stock a **"buy" rating** with target prices ranging from **$100** to **$120** per share.
• The company's latest earnings report shows a loss of **($2.95)** per share, but revenue of **$11.18 million**, exceeding estimates, indicating potential growth opportunities.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $61.79 and last traded at $60.78, with a volume of 299415 shares. The stock had previously closed at $58.85.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NKTR. B. Riley raised their target price on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. BTIG Research restated a "buy" rating and set a $100.00 target price on shares of Nektar Therapeutics in a research report on Friday, September 19th. Finally, HC Wainwright raised their target price on shares of Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Nektar Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.67.

Nektar Therapeutics Stock Up 3.4%

The company has a fifty day moving average of $36.29 and a two-hundred day moving average of $21.43. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.92 and a beta of 1.18.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued 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. Nektar Therapeutics had a negative return on equity of 631.43% and a negative net margin of 163.17%.The firm had revenue of $11.18 million during the quarter, compared to the consensus estimate of $9.42 million. Equities analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 6,666 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total value of $311,235.54. Following the completion of the sale, the chief executive officer owned 49,342 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, insider Jonathan Zalevsky sold 1,721 shares of the firm's stock in a transaction on 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 sale, the insider directly owned 17,462 shares of the company's stock, valued at approximately $585,326.24. This trade represents a 8.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,178 shares of company stock valued at $938,776. Corporate insiders own 5.25% of the company's stock.

Institutional Investors Weigh In On Nektar Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in Nektar Therapeutics by 1.4% in the first quarter. Acadian Asset Management LLC now owns 7,301,734 shares of the biopharmaceutical company's stock valued at $4,961,000 after acquiring an additional 100,645 shares during the period. Almitas Capital LLC lifted its holdings in Nektar Therapeutics by 401.1% in the first quarter. Almitas Capital LLC now owns 4,610,872 shares of the biopharmaceutical company's stock valued at $3,135,000 after acquiring an additional 3,690,647 shares during the period. AQR Capital Management LLC lifted its holdings in Nektar Therapeutics by 336.9% in the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company's stock valued at $2,463,000 after acquiring an additional 2,807,595 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Nektar Therapeutics by 14.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,007,928 shares of the biopharmaceutical company's stock valued at $2,045,000 after acquiring an additional 380,967 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Nektar Therapeutics by 253.1% in the first quarter. Mackenzie Financial Corp now owns 1,658,745 shares of the biopharmaceutical company's stock valued at $1,128,000 after acquiring an additional 1,188,976 shares during the period. 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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