Nektar Therapeutics (NASDAQ:NKTR) Rating Reiterated by BTIG Research

BTIG Research reiterated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report published on Monday, MarketBeat.com reports. They currently have a $4.00 price objective on the biopharmaceutical company’s stock.

Separately, Rodman & Renshaw started coverage on shares of Nektar Therapeutics in a research note on Friday, June 28th. They issued a buy rating and a $2.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Nektar Therapeutics currently has a consensus rating of Hold and an average target price of $2.33.

Nektar Therapeutics Price Performance

Nektar Therapeutics stock opened at $1.30 on Monday. The firm has a market capitalization of $239.23 million, a P/E ratio of -1.41 and a beta of 0.60. The stock has a fifty day moving average price of $1.25 and a two-hundred day moving average price of $1.31. Nektar Therapeutics has a 52-week low of $0.41 and a 52-week high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.04). Nektar Therapeutics had a negative return on equity of 133.64% and a negative net margin of 190.09%. The firm had revenue of $23.49 million during the quarter, compared to the consensus estimate of $17.24 million. During the same period in the previous year, the company posted ($0.27) EPS. On average, equities research analysts predict that Nektar Therapeutics will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in shares of Nektar Therapeutics by 30.4% during the third quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock worth $124,000 after acquiring an additional 22,285 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Nektar Therapeutics in the second quarter worth about $29,000. Values First Advisors Inc. acquired a new stake in Nektar Therapeutics in the second quarter worth about $56,000. Marquette Asset Management LLC raised its holdings in Nektar Therapeutics by 24.8% during the 1st quarter. Marquette Asset Management LLC now owns 232,289 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 46,126 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in Nektar Therapeutics during the 1st quarter valued at about $63,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

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.