Nektar Therapeutics (NASDAQ:NKTR) Upgraded at Jefferies Financial Group

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has a $2.00 price objective on the biopharmaceutical company's stock, up from their previous price objective of $1.00. Jefferies Financial Group's price target suggests a potential upside of 231.79% from the company's previous close.

Several other brokerages have also recently issued reports on NKTR. B. Riley started coverage on Nektar Therapeutics in a research note on Wednesday, January 8th. They set a "buy" rating and a $4.00 price objective on the stock. William Blair reaffirmed a "market perform" rating on shares of Nektar Therapeutics in a report on Thursday, March 13th. HC Wainwright reaffirmed a "buy" rating and set a $6.50 price objective on shares of Nektar Therapeutics in a research report on Thursday, March 13th. Finally, Oppenheimer raised shares of Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $6.00 target price on the stock in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.50.

Nektar Therapeutics Stock Performance

Shares of NKTR stock traded down $0.03 during mid-day trading on Friday, reaching $0.60. 1,252,081 shares of the company were exchanged, compared to its average volume of 1,823,191. The company has a market capitalization of $112.18 million, a P/E ratio of -0.72 and a beta of 0.69. The business's 50 day simple moving average is $0.77 and its 200 day simple moving average is $0.99. Nektar Therapeutics has a fifty-two week low of $0.43 and a fifty-two week high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.33. The business had revenue of $29.18 million for the quarter, compared to analysts' expectations of $36.65 million. Nektar Therapeutics had a negative net margin of 180.70% and a negative return on equity of 173.28%. On average, analysts forecast that Nektar Therapeutics will post -0.72 EPS for the current year.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NKTR. Two Sigma Securities LLC raised its stake in Nektar Therapeutics by 56.3% during the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 9,958 shares in the last quarter. Harvest Investment Services LLC acquired a new position in shares of Nektar Therapeutics during the fourth quarter valued at $27,000. US Asset Management LLC bought a new stake in shares of Nektar Therapeutics during the fourth quarter valued at about $31,000. XTX Topco Ltd acquired a new stake in Nektar Therapeutics in the third quarter worth about $46,000. Finally, Moloney Securities Asset Management LLC grew its position in Nektar Therapeutics by 42.4% in the 4th quarter. Moloney Securities Asset Management LLC now owns 50,000 shares of the biopharmaceutical company's stock valued at $46,000 after buying an additional 14,895 shares in the last quarter. 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.