Analysts Set Nektar Therapeutics (NASDAQ:NKTR) PT at $4.08

Shares of Nektar Therapeutics (NASDAQ:NKTR) have received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.08.

Several research firms have weighed in on NKTR. B. Riley began coverage on Nektar Therapeutics in a research note on Wednesday, January 8th. They set a “buy” rating and a $4.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $6.50 price objective on shares of Nektar Therapeutics in a research report on Monday, January 13th. Finally, Piper Sandler began coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price for the company.

Insider Buying and Selling

In other Nektar Therapeutics news, CEO Howard W. Robin sold 46,995 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $1.01, for a total value of $47,464.95. Following the completion of the sale, the chief executive officer now owns 1,195,710 shares of the company’s stock, valued at $1,207,667.10. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Zalevsky sold 51,115 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $0.94, for a total value of $48,048.10. Following the sale, the insider now owns 326,904 shares of the company’s stock, valued at approximately $307,289.76. This trade represents a 13.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,575 shares of company stock worth $149,878. Insiders own 3.71% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Nektar Therapeutics by 197.3% during the third quarter. JPMorgan Chase & Co. now owns 913,300 shares of the biopharmaceutical company’s stock valued at $1,187,000 after purchasing an additional 606,057 shares during the last quarter. Millennium Management LLC grew its stake in Nektar Therapeutics by 56.1% in the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock valued at $5,778,000 after buying an additional 1,674,924 shares during the last quarter. Eventide Asset Management LLC grew its stake in Nektar Therapeutics by 24.8% in the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock valued at $12,220,000 after buying an additional 1,870,904 shares during the last quarter. State Street Corp raised its holdings in Nektar Therapeutics by 11.9% in the 3rd quarter. State Street Corp now owns 3,345,733 shares of the biopharmaceutical company’s stock worth $4,349,000 after acquiring an additional 355,759 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in Nektar Therapeutics during the 3rd quarter worth $86,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Nektar Therapeutics Trading Up 10.1 %

Shares of NKTR stock opened at $0.73 on Friday. The stock’s fifty day simple moving average is $0.92 and its 200-day simple moving average is $1.13. The company has a market capitalization of $134.66 million, a price-to-earnings ratio of -0.87 and a beta of 0.58. Nektar Therapeutics has a 1-year low of $0.63 and a 1-year high of $1.93.

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.