Nektar Therapeutics (NASDAQ:NKTR) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Nektar Therapeutics received a "sell (D-)" rating from Weiss Ratings, indicating negative outlook from analysts.
• The stock has an average rating of "Moderate Buy" from equities analysts, with a target price of $91.67.
• Insider trading activity shows significant sales, including a sale of 6,666 shares by CEO Howard W. Robin, which raises concerns about company confidence.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Several other equities analysts have also weighed in on NKTR. BTIG Research restated a "buy" rating and set a $100.00 target price on shares of Nektar Therapeutics in a report on Friday, September 19th. B. Riley lifted their price target on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.67.

Nektar Therapeutics Trading Down 5.6%

NASDAQ:NKTR opened at $60.10 on Friday. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -6.83 and a beta of 1.18. The firm's fifty day simple moving average is $48.20 and its 200 day simple moving average is $27.15. Nektar Therapeutics has a twelve month low of $6.45 and a twelve month high of $65.79.

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, beating the consensus estimate 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 predict that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Insider Activity

In other news, insider Jonathan Zalevsky sold 1,721 shares of the business's stock in a transaction dated 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 owned 17,462 shares of the company's stock, valued at approximately $585,326.24. The trade was a 8.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard W. Robin sold 6,666 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 49,342 shares of the company's stock, valued at $2,303,777.98. The trade was a 11.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,178 shares of company stock valued at $938,776 in the last three months. Insiders own 5.25% of the company's stock.

Institutional Investors Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Algert Global LLC bought a new stake in shares of Nektar Therapeutics in the 1st quarter worth about $33,000. US Bancorp DE grew its position in shares of Nektar Therapeutics by 257.8% during the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 36,085 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Nektar Therapeutics during the 2nd quarter valued at about $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Nektar Therapeutics during the 1st quarter valued at about $41,000. Finally, Cerity Partners LLC bought a new stake in shares of Nektar Therapeutics during the 1st quarter valued at about $52,000. 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.

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