Nektar Therapeutics' (NKTR) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Nektar Therapeutics' stock has been reaffirmed with a "Sell (D-)" rating by Weiss Ratings, indicating ongoing concerns about the company’s performance.
• While Weiss Ratings has a bearish outlook, other analysts have issued buy ratings and increased price targets for the stock, with a consensus rating of "Moderate Buy" and a target price of $91.67.
• The company reported a loss per share of ($2.95) for the last quarter, slightly better than expected, with revenue of $11.18 million exceeding analyst estimates.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the company. B. Riley lifted their price target on Nektar Therapeutics from $85.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. BTIG Research restated a "buy" rating and issued a $100.00 price target on shares of Nektar Therapeutics in a report on Friday, September 19th. Finally, HC Wainwright lifted their price target on 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, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.67.

Nektar Therapeutics Stock Performance

Nektar Therapeutics stock opened at $56.56 on Wednesday. Nektar Therapeutics has a one year low of $6.45 and a one year high of $62.95. The business has a fifty day moving average of $39.83 and a two-hundred day moving average of $23.01. The company has a market cap of $1.08 billion, a P/E ratio of -6.43 and a beta of 1.18.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($2.95) EPS for the quarter, beating analysts' consensus estimates of ($3.13) by $0.18. The company had revenue of $11.18 million during the quarter, compared to the consensus estimate of $9.42 million. Nektar Therapeutics had a negative return on equity of 631.43% and a negative net margin of 163.17%. Sell-side analysts predict that Nektar Therapeutics will post -0.72 EPS for the current year.

Insider Activity at Nektar Therapeutics

In related news, insider Jonathan Zalevsky sold 1,721 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $33.52, for a total transaction of $57,687.92. Following the sale, the insider directly owned 17,462 shares of the company's stock, valued at approximately $585,326.24. This represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 6,666 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 49,342 shares of the company's stock, valued at approximately $2,303,777.98. The trade was a 11.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,178 shares of company stock worth $938,776. Corporate insiders own 5.25% of the company's stock.

Institutional Trading of Nektar Therapeutics

Several institutional investors have recently modified their holdings of NKTR. Rhumbline Advisers lifted its holdings in shares of Nektar Therapeutics by 23.3% in the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company's stock valued at $151,000 after buying an additional 41,948 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Nektar Therapeutics in the first quarter valued at $41,000. 49 Wealth Management LLC acquired a new stake in shares of Nektar Therapeutics in the first quarter valued at $56,000. Cerity Partners LLC acquired a new stake in shares of Nektar Therapeutics in the first quarter valued at $52,000. Finally, CWM LLC lifted its holdings in shares of Nektar Therapeutics by 4,544.5% in the first quarter. CWM LLC now owns 105,524 shares of the biopharmaceutical company's stock valued at $72,000 after buying an additional 103,252 shares during the period. 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.

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