HC Wainwright Issues Positive Forecast for Nektar Therapeutics (NASDAQ:NKTR) Stock Price

Nektar Therapeutics (NASDAQ:NKTR) had its target price boosted by research analysts at HC Wainwright from $6.50 to $120.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 435.33% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Wall Street Zen lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 14th. Jefferies Financial Group raised Nektar Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the company from $15.00 to $30.00 in a report on Friday, April 11th. Oppenheimer upgraded Nektar Therapeutics from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Friday, March 14th. Finally, William Blair reiterated a “market perform” rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.71.

Nektar Therapeutics Stock Up 135.0%

Nektar Therapeutics stock traded up $12.88 during mid-day trading on Tuesday, hitting $22.42. The company had a trading volume of 21,490,072 shares, compared to its average volume of 358,408. The business has a fifty day moving average of $10.09 and a 200 day moving average of $11.84. The stock has a market cap of $278.18 million, a price-to-earnings ratio of -2.36 and a beta of 0.55. Nektar Therapeutics has a 1 year low of $6.45 and a 1 year high of $23.50.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($3.30) EPS for the quarter, missing analysts’ consensus estimates of ($2.70) by ($0.60). Nektar Therapeutics had a negative return on equity of 329.54% and a negative net margin of 152.49%. The firm had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $15.61 million. During the same quarter in the previous year, the company posted ($2.70) EPS. Equities analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On Nektar Therapeutics

Several large investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in Nektar Therapeutics by 12.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 730,875 shares of the biopharmaceutical company’s stock worth $680,000 after buying an additional 80,034 shares in the last quarter. Monaco Asset Management SAM grew its holdings in Nektar Therapeutics by 1.8% in the 4th quarter. Monaco Asset Management SAM now owns 2,032,868 shares of the biopharmaceutical company’s stock worth $1,891,000 after acquiring an additional 35,648 shares during the last quarter. Sei Investments Co. raised its position in Nektar Therapeutics by 50.6% during the 4th quarter. Sei Investments Co. now owns 94,152 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 31,654 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Nektar Therapeutics by 29.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,182,995 shares of the biopharmaceutical company’s stock worth $1,100,000 after acquiring an additional 269,695 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Nektar Therapeutics by 10.4% during the 4th quarter. Wellington Management Group LLP now owns 522,409 shares of the biopharmaceutical company’s stock valued at $486,000 after purchasing an additional 49,319 shares in the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.

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.