Nektar Therapeutics (NASDAQ:NKTR) Trading Up 7.3% - Still a Buy?

Key Points

• Nektar Therapeutics shares increased by 7.3%, trading at $43.12, with a recent market capitalization of $843.11 million.
• Analysts have varied ratings on Nektar, with six giving a "Buy" rating and price targets ranging from $60 to $120, while the average price target is $88.33.
• In the last quarter, Nektar Therapeutics reported earnings of ($2.95) per share, exceeding estimates, with a revenue of $11.18 million compared to a consensus estimate of $9.42 million.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s share price was up 7.3% during trading on Monday . The company traded as high as $43.53 and last traded at $43.12. Approximately 863,506 shares changed hands during mid-day trading, an increase of 0% from the average daily volume of 859,530 shares. The stock had previously closed at $40.18.

Analyst Ratings Changes

A number of equities analysts have recently commented on NKTR shares. B. Riley raised their price objective on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. BTIG Research raised their price objective on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, HC Wainwright raised their price objective on Nektar Therapeutics to $120.00 and gave the stock 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 stock. Based on data from MarketBeat.com, Nektar Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

Nektar Therapeutics Stock Performance

The firm has a market capitalization of $925.89 million, a PE ratio of -5.53 and a beta of 1.06. The firm has a fifty day moving average of $28.01 and a 200 day moving average of $17.51.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings data 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 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 the consensus estimate of $9.42 million. Research analysts forecast that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Activity at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 6,666 shares of Nektar Therapeutics 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 owned 49,342 shares in the company, valued at approximately $2,303,777.98. This trade represents a 11.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Zalevsky sold 1,721 shares of Nektar Therapeutics stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $33.52, for a total value of $57,687.92. Following the completion of the transaction, the insider owned 17,462 shares of the company's stock, valued at approximately $585,326.24. The trade was a 8.97% 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 over the last 90 days. 5.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of Nektar Therapeutics in the 2nd quarter worth approximately $39,000. Headlands Technologies LLC acquired a new position in shares of Nektar Therapeutics in the 2nd quarter worth approximately $65,000. IFP Advisors Inc acquired a new position in shares of Nektar Therapeutics in the 2nd quarter worth approximately $124,000. Marshall Wace LLP acquired a new position in shares of Nektar Therapeutics in the 2nd quarter worth approximately $367,000. Finally, Gainplan LLC acquired a new position in shares of Nektar Therapeutics in the 2nd quarter worth approximately $388,000. Institutional investors and hedge funds 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.