Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) traded up 12.1% during mid-day trading on Tuesday . The company traded as high as $9.24 and last traded at $9.86. 157,466 shares changed hands 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.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Oppenheimer raised shares of Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $90.00 price target for the company in a research report on Friday, March 14th. William Blair reissued a "market perform" rating on shares of Nektar Therapeutics in a research report on Monday, May 12th. Wall Street Zen lowered shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. Jefferies Financial Group raised shares of Nektar Therapeutics from a "hold" rating to a "buy" rating and increased their price target for the stock from $15.00 to $30.00 in a research report on Friday, April 11th. Finally, HC Wainwright reissued a "buy" rating and issued a $97.50 price target on shares of Nektar Therapeutics in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.50.
Check Out Our Latest Research Report on Nektar Therapeutics
Nektar Therapeutics Stock Down 1.9%
The stock has a market cap of $1.60 billion, a P/E ratio of -10.23 and a beta of 0.55. The firm's 50-day moving average is $9.99 and its two-hundred day moving average is $12.21.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share for the quarter, missing the consensus estimate of ($2.70) by ($0.60). The business had revenue of $10.46 million for the quarter, compared to the consensus estimate of $15.61 million. Nektar Therapeutics had a negative net margin of 180.70% and a negative return on equity of 173.28%. During the same period in the previous year, the business posted ($2.70) EPS. Analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Nektar Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC grew its holdings in Nektar Therapeutics by 56.3% during the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 9,958 shares during the last quarter. Harvest Investment Services LLC acquired a new position in Nektar Therapeutics during the fourth quarter valued at approximately $27,000. US Asset Management LLC acquired a new position in Nektar Therapeutics during the fourth quarter valued at approximately $31,000. Algert Global LLC acquired a new position in Nektar Therapeutics during the first quarter valued at approximately $33,000. Finally, US Bancorp DE grew its holdings in Nektar Therapeutics by 257.8% during 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 during the last quarter. Institutional investors and hedge funds own 75.88% of the company's stock.
About Nektar Therapeutics
(
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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