Nektar Therapeutics (NASDAQ:NKTR) Trading 3.8% Higher - Here's Why

Key Points

• Nektar Therapeutics shares saw a 3.8% increase in trading, closing at $57.06 after reaching a high of $58.00, despite a significant decline in trading volume.
• Analysts have mixed ratings for Nektar, with six recommending a buy, one a hold, and one a sell, while the consensus target price stands at $91.67.
• Nektar's quarterly earnings report showed a loss of ($2.95) per share, which was an improvement over analyst expectations, with revenue of $11.18 million surpassing estimates.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) shares traded up 3.8% during trading on Friday . The stock traded as high as $58.00 and last traded at $57.06. 293,459 shares changed hands during trading, a decline of 67% from the average session volume of 900,563 shares. The stock had previously closed at $54.96.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nektar Therapeutics in a report on Wednesday, October 8th. BTIG Research reissued a "buy" rating and issued a $100.00 target price on shares of Nektar Therapeutics in a report on Friday, September 19th. HC Wainwright upped their price objective on Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, B. Riley increased their target price on Nektar Therapeutics from $85.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $91.67.

Nektar Therapeutics Trading Up 11.8%

The company has a market cap of $1.17 billion, a PE ratio of -6.99 and a beta of 1.18. The business has a 50 day simple moving average of $43.87 and a two-hundred day simple moving average of $24.85.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $9.42 million. On average, equities research analysts expect that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 6,666 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total value of $311,235.54. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $57,687.92. Following the completion of the transaction, the insider directly owned 17,462 shares in the company, valued at $585,326.24. This trade represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,178 shares of company stock worth $938,776 over the last ninety days. Corporate insiders own 5.25% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in Nektar Therapeutics in the second quarter valued at about $65,000. Marshall Wace LLP acquired a new stake in shares of Nektar Therapeutics during the second quarter valued at about $367,000. Stonepine Capital Management LLC acquired a new stake in shares of Nektar Therapeutics during the second quarter valued at about $1,297,000. Simplify Asset Management Inc. acquired a new stake in shares of Nektar Therapeutics during the second quarter valued at about $1,344,000. Finally, Moody Aldrich Partners LLC acquired a new stake in shares of Nektar Therapeutics during the second quarter valued at about $1,173,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.