Nektar Therapeutics (NASDAQ:NKTR) Shares Up 7% – Time to Buy?

Nektar Therapeutics (NASDAQ:NKTR)’s share price traded up 7% on Friday . The stock traded as high as $39.75 and last traded at $39.10. 239,993 shares were traded during mid-day trading, a decline of 64% from the average session volume of 674,612 shares. The stock had previously closed at $36.53.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NKTR. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, December 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Nektar Therapeutics in a research note on Monday, December 29th. Citigroup began coverage on shares of Nektar Therapeutics in a research report on Wednesday, November 26th. They set a “buy” rating and a $102.00 price target for the company. Wall Street Zen downgraded Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, BTIG Research raised their price objective on shares of Nektar Therapeutics from $100.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Nektar Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $111.83.

Nektar Therapeutics Stock Performance

The firm has a market capitalization of $761.10 million, a PE ratio of -4.69 and a beta of 1.31. The company has a fifty day moving average price of $48.85 and a 200-day moving average price of $44.40.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) EPS for the quarter, topping analysts’ consensus estimates of ($2.85) by $1.00. The firm had revenue of $11.79 million during the quarter, compared to analysts’ expectations of $10.20 million. Nektar Therapeutics had a negative return on equity of 456.53% and a negative net margin of 192.87%. On average, equities analysts predict that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 3,867 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total transaction of $137,935.89. Following the transaction, the insider directly owned 21,354 shares in the company, valued at $761,697.18. This represents a 15.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Andrew Wilson sold 630 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total transaction of $34,196.40. Following the transaction, the insider directly owned 21,585 shares in the company, valued at approximately $1,171,633.80. The trade was a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,861 shares of company stock valued at $354,730 over the last three months. 5.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Nektar Therapeutics in the 2nd quarter valued at $39,000. Headlands Technologies LLC purchased a new position in Nektar Therapeutics in the 2nd quarter worth $65,000. Integrated Wealth Concepts LLC acquired a new stake in Nektar Therapeutics during the 1st quarter worth about $68,000. Finally, Compass Wealth Management LLC acquired a new position in shares of Nektar Therapeutics in the third quarter valued at about $88,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

About Nektar Therapeutics

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.