Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s share price hit a new 52-week high during trading on Saturday . The company traded as high as $63.92 and last traded at $57.77, with a volume of 2289134 shares traded. The stock had previously closed at $54.96.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. HC Wainwright raised their target price on Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. B. Riley increased their price target on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. BTIG Research reiterated a "buy" rating and issued a $100.00 price target on shares of Nektar Therapeutics in a report on Friday, September 19th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Nektar Therapeutics in a report on Wednesday, October 8th. Six investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.67.
View Our Latest Research Report on NKTR
Nektar Therapeutics Stock Performance
The stock's 50-day moving average price is $44.56 and its 200-day moving average price is $25.18. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -6.57 and a beta of 1.18.
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. 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 during the quarter, compared to the consensus estimate of $9.42 million. Analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current year.
Insider Activity
In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 1,721 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $33.52, for a total transaction of $57,687.92. Following the completion of the transaction, the insider directly owned 17,462 shares in the company, valued at approximately $585,326.24. This trade represents a 8.97% decrease in their position. 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 firm's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $46.69, for a total transaction of $311,235.54. Following the transaction, the chief executive officer owned 49,342 shares of the company's stock, 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 have sold a total of 25,178 shares of company stock valued at $938,776 over the last 90 days. 5.25% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Nektar Therapeutics
Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in shares of Nektar Therapeutics by 1.4% during the 1st quarter. Acadian Asset Management LLC now owns 7,301,734 shares of the biopharmaceutical company's stock worth $4,961,000 after purchasing an additional 100,645 shares during the last quarter. Gainplan LLC acquired a new stake in shares of Nektar Therapeutics during the 2nd quarter worth about $388,000. Nuveen LLC acquired a new stake in shares of Nektar Therapeutics during the 1st quarter worth about $222,000. Fred Alger Management LLC acquired a new stake in shares of Nektar Therapeutics during the 1st quarter worth about $344,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Nektar Therapeutics during the 1st quarter worth about $41,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.
Nektar Therapeutics Company Profile
(
Get Free Report)
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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