Nektar Therapeutics (NASDAQ:NKTR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Nektar Therapeutics (NASDAQ:NKTR) from a sell rating to a hold rating in a report published on Saturday.

Several other equities analysts have also issued reports on the stock. BTIG Research reissued a “buy” rating and issued a $100.00 price target on shares of Nektar Therapeutics in a report on Friday, September 19th. B. Riley raised their price target on Nektar Therapeutics from $85.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nektar Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Nektar Therapeutics Stock Up 1.5%

Shares of Nektar Therapeutics stock traded up $0.85 during trading on Friday, reaching $55.97. 854,201 shares of the company were exchanged, compared to its average volume of 906,206. The business has a 50-day moving average price of $54.43 and a 200-day moving average price of $30.79. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.36 and a beta of 1.19. Nektar Therapeutics has a twelve month low of $6.45 and a twelve month high of $66.92.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.85) by $1.00. Nektar Therapeutics had a negative return on equity of 631.43% and a negative net margin of 163.17%.The company had revenue of $11.79 million during the quarter, compared to analyst estimates of $10.20 million. On average, equities research analysts forecast that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jonathan Zalevsky sold 1,721 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $33.52, for a total transaction of $57,687.92. Following the completion of the transaction, the insider owned 17,462 shares in the company, valued at approximately $585,326.24. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Howard W. Robin sold 6,666 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $46.69, for a total transaction of $311,235.54. Following the completion of the transaction, the chief executive officer directly owned 49,342 shares of the company’s stock, valued at approximately $2,303,777.98. This trade represents a 11.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 25,178 shares of company stock valued at $938,776. Insiders own 5.25% 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 NKTR. Algert Global LLC bought a new position in shares of Nektar Therapeutics in the 1st quarter valued at about $33,000. US Bancorp DE boosted its position in Nektar Therapeutics by 257.8% during the first quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 36,085 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Nektar Therapeutics during the second quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC bought a new position in Nektar Therapeutics in the first quarter valued at approximately $41,000. Finally, Cerity Partners LLC acquired a new position in shares of Nektar Therapeutics during the 1st quarter worth approximately $52,000. 75.88% of the stock is owned by institutional investors.

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.