Brokerages Set Nektar Therapeutics (NASDAQ:NKTR) Target Price at $88.33

Key Points

• Nektar Therapeutics has received a consensus rating of “Moderate Buy” from analysts, with one hold and six buy recommendations, and an average 12-month target price of approximately $88.33.
• Insider trading activities include CEO Howard W. Robin selling 1,573 shares at an average price of $26.59, reducing his ownership by 2.22%.
• The company's recent earnings report showed it beating analysts' expectations with a reported revenue of $11.18 million for the quarter and a loss of ($2.95) earnings per share.

Shares of Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) have been given an average rating of "Moderate Buy" by the seven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $88.3333.

A number of equities research analysts have commented on the stock. William Blair reissued a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. B. Riley increased their price objective on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. BTIG Research increased their price objective on shares of Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. HC Wainwright raised their target price on shares of Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th.

Insider Activity

In other news, CEO Howard W. Robin sold 1,573 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $26.59, for a total value of $41,826.07. Following the transaction, the chief executive officer owned 69,340 shares of the company's stock, valued at approximately $1,843,750.60. This trade represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 2,974 shares of company stock valued at $79,079. 3.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NKTR. Two Sigma Securities LLC boosted its stake in shares of Nektar Therapeutics by 56.3% in the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 9,958 shares during the last quarter. US Asset Management LLC bought a new position in shares of Nektar Therapeutics in the 4th quarter valued at about $31,000. Algert Global LLC bought a new position in shares of Nektar Therapeutics in the 1st quarter valued at about $33,000. US Bancorp DE boosted its stake in shares of Nektar Therapeutics by 257.8% in the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 36,085 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Nektar Therapeutics in the 2nd quarter valued at about $39,000. Institutional investors own 75.88% of the company's stock.

Nektar Therapeutics Stock Up 1.8%

NASDAQ:NKTR traded up $0.52 during mid-day trading on Wednesday, reaching $29.86. 381,741 shares of the company were exchanged, compared to its average volume of 660,508. Nektar Therapeutics has a 12 month low of $6.45 and a 12 month high of $37.38. The company has a fifty day moving average of $24.88 and a 200 day moving average of $15.75. The stock has a market cap of $567.94 million, a PE ratio of -3.39 and a beta of 1.05.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($2.95) EPS for the quarter, topping analysts' consensus estimates of ($3.13) by $0.18. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. The firm had revenue of $11.18 million for the quarter, compared to analyst estimates of $9.42 million. On average, equities research analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

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.