Nektar Therapeutics (NASDAQ:NKTR) Given Average Recommendation of “Moderate Buy” by Brokerages

Nektar Therapeutics (NASDAQ:NKTR) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $150.00.

NKTR has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Piper Sandler raised their price target on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. HC Wainwright lifted their price target on Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Citigroup boosted their price objective on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd.

Insiders Place Their Bets

In related news, insider Jonathan Zalevsky sold 5,681 shares of the 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 sale, the insider owned 9,756 shares in the company, valued at $682,920. This represents a 36.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the transaction, the chief executive officer directly owned 65,045 shares in the company, valued at $3,923,514.40. The trade was a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,862 shares of company stock worth $1,379,205 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in shares of Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 210 shares during the last quarter. KBC Group NV acquired a new position in Nektar Therapeutics in the 1st quarter valued at about $52,000. Headlands Technologies LLC purchased a new stake in Nektar Therapeutics during the 2nd quarter valued at approximately $65,000. State of Wyoming purchased a new stake in Nektar Therapeutics during the 1st quarter valued at approximately $67,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Nektar Therapeutics during the 1st quarter worth approximately $68,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Price Performance

NASDAQ NKTR opened at $75.50 on Wednesday. Nektar Therapeutics has a 1 year low of $22.50 and a 1 year high of $109.00. The company has a market capitalization of $2.55 billion, a PE ratio of -8.97 and a beta of 1.14. The company has a fifty day moving average of $67.00 and a two-hundred day moving average of $68.47.

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.