Nektar Therapeutics (NASDAQ:NKTR) Shares Gap Up - Still a Buy?

Key Points

• Nektar Therapeutics' stock price gapped up significantly, opening at $55.61 compared to a previous close of $51.07, with a trading volume of 741,897 shares.
• Wall Street analysts are optimistic, with multiple firms raising their price targets; B. Riley increased theirs from $60.00 to $85.00 and the stock holds a current average rating of "Moderate Buy".
• The company recently reported $11.18 million in revenue for the quarter, exceeding estimates and indicated an EPS of (-2.95), beat by $0.18 over analyst expectations.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $51.07, but opened at $55.61. Nektar Therapeutics shares last traded at $54.59, with a volume of 741,897 shares traded.

Analyst Ratings Changes

Several research firms have commented on NKTR. BTIG Research reaffirmed a "buy" rating and set a $100.00 price target on shares of Nektar Therapeutics in a research report on Friday. 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 report 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

Nektar Therapeutics Stock Up 6.8%

The firm has a fifty day moving average of $30.90 and a 200-day moving average of $18.99. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -6.69 and a beta of 1.05.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $11.18 million during the quarter, compared to analysts' expectations of $9.42 million. As a group, research analysts forecast that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, 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 owned 49,342 shares of the company's stock, valued at approximately $2,303,777.98. The trade was a 11.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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. In the last three months, insiders have sold 25,178 shares of company stock valued at $938,776. 3.71% of the stock is owned by company insiders.

Institutional Trading of Nektar Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in NKTR. FNY Investment Advisers LLC bought a new position in Nektar Therapeutics during the 2nd quarter valued at $39,000. Headlands Technologies LLC bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth $65,000. IFP Advisors Inc bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth $124,000. Marshall Wace LLP bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth $367,000. Finally, Gainplan LLC bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth $388,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

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.