Nektar Therapeutics (NASDAQ:NKTR) Stock Price Up 12.1% - Still a Buy?

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s share price shot up 12.1% on Tuesday . The stock traded as high as $9.24 and last traded at $9.86. 157,466 shares were traded during mid-day trading, an increase of 4% from the average session volume of 150,723 shares. The stock had previously closed at $8.79.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NKTR. Wall Street Zen cut shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Oppenheimer raised Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $90.00 price target for the company in a research note on Friday, March 14th. William Blair reissued a "market perform" rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. Jefferies Financial Group upgraded Nektar Therapeutics from a "hold" rating to a "buy" rating and increased their price objective for the stock from $15.00 to $30.00 in a report on Friday, April 11th. Finally, HC Wainwright reiterated a "buy" rating and issued a $97.50 target price on shares of Nektar Therapeutics in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.50.

Nektar Therapeutics Stock Down 16.2%

The company has a market cap of $1.77 billion, a P/E ratio of -11.32 and a beta of 0.55. The stock's 50-day moving average price is $9.92 and its 200 day moving average price is $12.33.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share for the quarter, missing analysts' consensus estimates of ($2.70) by ($0.60). Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. The business had revenue of $10.46 million for the quarter, compared to analyst estimates of $15.61 million. During the same quarter in the prior year, the firm earned ($2.70) EPS. Analysts expect that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nektar Therapeutics

Several institutional investors have recently bought and sold shares of the business. Two Sigma Securities LLC increased its position in Nektar Therapeutics by 56.3% in the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 9,958 shares during the period. Harvest Investment Services LLC acquired a new stake in Nektar Therapeutics in the 4th quarter valued at approximately $27,000. US Asset Management LLC acquired a new position in shares of Nektar Therapeutics during the 4th quarter worth about $31,000. Algert Global LLC acquired a new position in shares of Nektar Therapeutics during the 1st quarter worth approximately $33,000. Finally, US Bancorp DE grew its position in shares of Nektar Therapeutics by 257.8% in the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 36,085 shares during the period. 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.