Nektar Therapeutics (NASDAQ:NKTR) Shares Up 5.2% – Still a Buy?

Nektar Therapeutics (NASDAQ:NKTR) rose 5.2% during mid-day trading on Tuesday . The stock traded as high as $75.87 and last traded at $76.9510. 175,376 shares changed hands during trading, a decline of 84% from the average session volume of 1,112,312 shares. The stock had previously closed at $73.15.

Analysts Set New Price Targets

Several analysts have recently commented on the company. HC Wainwright raised their price target on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. TD Cowen assumed coverage on Nektar Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating for the company. BTIG Research boosted their target price on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price target on shares of Nektar Therapeutics in a research note on Friday, March 13th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.62.

Nektar Therapeutics Stock Performance

The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -9.07 and a beta of 1.13. The business has a fifty day simple moving average of $68.79 and a 200 day simple moving average of $63.06.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The business had revenue of $10.86 million during the quarter, compared to analyst estimates of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. On average, equities research analysts anticipate that Nektar Therapeutics will post -9.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 5,681 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 9,756 shares of the company’s stock, valued at $682,920. This trade represents a 36.80% 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, CEO Howard W. Robin sold 10,000 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total value of $603,200.00. Following the completion of the transaction, the chief executive officer owned 65,045 shares of the company’s stock, valued at approximately $3,923,514.40. The trade was a 13.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,862 shares of company stock worth $1,379,205 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of Nektar Therapeutics

Several hedge funds have recently added to or reduced their stakes in NKTR. BNP Paribas Financial Markets lifted its holdings in Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 210 shares during the last quarter. KBC Group NV acquired a new position in shares of Nektar Therapeutics in the first quarter worth about $52,000. Deutsche Bank AG increased its position in shares of Nektar Therapeutics by 0.8% in the fourth quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company’s stock worth $3,837,000 after acquiring an additional 743 shares in the last quarter. Bayforest Capital Ltd raised its holdings in shares of Nektar Therapeutics by 51.3% during the fourth quarter. Bayforest Capital Ltd now owns 2,541 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 862 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Nektar Therapeutics in the 1st quarter valued at approximately $67,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Company Profile

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.