BTIG Research restated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR – Free Report) in a report released on Friday morning,Benzinga reports. BTIG Research currently has a $178.00 price objective on the biopharmaceutical company’s stock.
A number of other brokerages also recently issued reports on NKTR. JPMorgan Chase & Co. began coverage on Nektar Therapeutics in a research report on Friday, August 21st. They set a “neutral” rating and a $65.00 price objective on the stock. Canaccord Genuity Group started coverage on shares of Nektar Therapeutics in a research note on Wednesday, July 22nd. They set a “buy” rating and a $153.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Friday, August 28th. Wedbush lowered their target price on shares of Nektar Therapeutics from $80.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, September 23rd. Finally, TD Cowen upgraded shares of Nektar Therapeutics to a “strong-buy” rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nektar Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $138.50.
View Our Latest Report on Nektar Therapeutics
Nektar Therapeutics Price Performance
Nektar Therapeutics (NASDAQ:NKTR – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.74. The firm had revenue of $10.13 million during the quarter, compared to the consensus estimate of $10.43 million. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. As a group, sell-side analysts expect that Nektar Therapeutics will post -8.16 earnings per share for the current fiscal year.
Insider Transactions at Nektar Therapeutics
In other news, insider Jonathan Zalevsky sold 5,681 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the completion of the sale, the insider owned 9,756 shares of the company’s stock, valued at approximately $682,920. The trade was a 36.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Howard W. Robin sold 418 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total value of $30,087.64. Following the completion of the sale, the chief executive officer owned 54,627 shares of the company’s stock, valued at $3,932,051.46. The trade was a 0.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,285 shares of company stock worth $441,146 over the last 90 days. Insiders own 2.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. KBC Group NV bought a new stake in Nektar Therapeutics during the 1st quarter valued at $52,000. State of Wyoming bought a new position in shares of Nektar Therapeutics during the 1st quarter worth $67,000. Allspring Global Investments Holdings LLC bought a new position in shares of Nektar Therapeutics during the 1st quarter worth $209,000. Great Lakes Advisors LLC purchased a new position in shares of Nektar Therapeutics during the second quarter valued at $206,000. Finally, Pale Fire Capital SE purchased a new position in shares of Nektar Therapeutics during the second quarter valued at $234,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.
More Nektar Therapeutics News
Here are the key news stories impacting Nektar Therapeutics this week:
- Positive Sentiment: A U.S. jury found that Eli Lilly breached its implied covenant of good faith in connection with the rezpegaldesleukin collaboration, awarding Nektar approximately $90 million. The award could provide a meaningful cash benefit for Nektar, although potential appeals and collection timing remain considerations. Reuters article
- Positive Sentiment: BTIG reaffirmed its Buy rating and set a $178 price target, signaling substantial confidence in Nektar’s pipeline and potential upside following the legal verdict. Benzinga article
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that harness the body’s immune system to treat cancer and autoimmune and inflammatory diseases. The company’s research is centered on cytokine biology, immune-cell regulation and its proprietary polymer-conjugation technologies, which are designed to modify therapeutic compounds and potentially improve their duration, delivery or tolerability.
Nektar’s pipeline has included investigational therapies such as rezpegaldesleukin, an immune-modulating treatment being studied for autoimmune and inflammatory conditions.
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