Nektar Therapeutics (NASDAQ:NKTR) Trading 5.8% Higher - What's Next?

Key Points

• Nektar Therapeutics shares increased by 5.8% to $58.84, despite a significant drop in trading volume, with only 361,661 shares exchanged compared to an average of 910,356 shares.
• Analysts are optimistic about Nektar's future, with several firms raising their price targets to between $100 and $120, all while maintaining a consensus rating of “Moderate Buy.”
• The company reported better than expected earnings, with revenues reaching $11.18 million, exceeding analyst predictions, while still operating at a loss with a negative net margin of 163.17%.

Shares of Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) rose 5.8% on Friday . The company traded as high as $58.49 and last traded at $58.84. Approximately 361,661 shares were traded during trading, a decline of 60% from the average daily volume of 910,356 shares. The stock had previously closed at $55.62.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NKTR. B. Riley boosted their price objective on Nektar Therapeutics from $85.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday. BTIG Research reaffirmed a "buy" rating and set a $100.00 price objective on shares of Nektar Therapeutics in a report on Friday, September 19th. Finally, HC Wainwright increased their target price on shares of Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $91.67.

Nektar Therapeutics Price Performance

The firm has a market capitalization of $1.11 billion, a PE ratio of -6.65 and a beta of 1.06. The company's fifty day simple moving average is $33.61 and its 200 day simple moving average is $20.17.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.13) by $0.18. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. The business had revenue of $11.18 million for the quarter, compared to analysts' expectations of $9.42 million. On average, analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Transactions at Nektar Therapeutics

In related news, 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 transaction of $57,687.92. Following the transaction, the insider owned 17,462 shares in the company, valued at $585,326.24. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard W. Robin sold 6,666 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total value of $311,235.54. Following the completion of the transaction, the chief executive officer directly owned 49,342 shares of the company's stock, valued at $2,303,777.98. This represents a 11.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,178 shares of company stock worth $938,776 in the last ninety days. Insiders own 5.25% of the company's stock.

Hedge Funds Weigh In On Nektar Therapeutics

Several large investors have recently made changes to their positions in NKTR. FNY Investment Advisers LLC purchased a new stake in Nektar Therapeutics in the 2nd quarter worth about $39,000. Headlands Technologies LLC purchased a new stake in shares of Nektar Therapeutics in the second quarter worth approximately $65,000. IFP Advisors Inc purchased a new stake in shares of Nektar Therapeutics in the second quarter worth approximately $124,000. Marshall Wace LLP bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth approximately $367,000. Finally, Gainplan LLC bought a new position in Nektar Therapeutics in the 2nd quarter valued at $388,000. 75.88% of the stock is currently 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.

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