Nektar Therapeutics (NASDAQ:NKTR) Hits New 1-Year High - What's Next?

Key Points

• Nektar Therapeutics (NASDAQ:NKTR) achieved a new 52-week high, trading at $49.01, with a closing price of $48.18 and a volume of over 1.6 million shares.
• The company received mixed reviews from analysts, with HC Wainwright setting a buy rating and a target price of $120, while Wall Street Zen downgraded it to a sell rating.
• Nektar's recent earnings report showed a loss of $2.95 per share, which was an improvement over the expected loss of $3.13, with revenue surpassing estimates at $11.18 million.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $49.01 and last traded at $48.18, with a volume of 1653916 shares traded. The stock had previously closed at $48.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BTIG Research lifted their price target on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. B. Riley lifted their price target on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, HC Wainwright lifted their target price on Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

Nektar Therapeutics Trading Up 0.3%

The stock has a market capitalization of $935.40 million, a PE ratio of -5.59 and a beta of 1.05. The firm's 50-day simple moving average is $28.53 and its two-hundred day simple moving average is $17.84.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings data 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 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 analysts' expectations of $9.42 million. As a group, research analysts expect that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jonathan Zalevsky sold 1,721 shares of the company'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 transaction, the insider directly owned 17,462 shares of the company's stock, valued at approximately $585,326.24. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Howard W. Robin sold 6,666 shares of the company's 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 directly owned 49,342 shares in the company, valued at $2,303,777.98. This trade represents a 11.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,178 shares of company stock worth $938,776 over the last ninety days. 3.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds have recently bought and sold shares of the business. US Asset Management LLC bought a new position in Nektar Therapeutics during the fourth quarter worth about $31,000. Algert Global LLC bought a new position in shares of Nektar Therapeutics in the first quarter valued at approximately $33,000. US Bancorp DE increased its holdings in shares of Nektar Therapeutics by 257.8% in the first 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 in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Nektar Therapeutics in the second quarter valued at approximately $39,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Nektar Therapeutics in the first quarter valued at approximately $41,000. 75.88% of the stock is owned by institutional investors and hedge funds.

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.