Nektar Therapeutics (NASDAQ:NKTR) Receives $3.00 Average Price Target from Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTR) have received an average rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $3.00.

Separately, Rodman & Renshaw initiated coverage on Nektar Therapeutics in a research report on Friday, June 28th. They set a “buy” rating and a $2.00 price target for the company.

Insider Buying and Selling at Nektar Therapeutics

In related news, major shareholder Deep Track Capital, Lp sold 56,000 shares of Nektar Therapeutics stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $1.78, for a total value of $99,680.00. Following the sale, the insider now owns 18,344,000 shares of the company’s stock, valued at approximately $32,652,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Deep Track Capital, Lp sold 56,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $1.78, for a total transaction of $99,680.00. Following the completion of the transaction, the insider now owns 18,344,000 shares in the company, valued at approximately $32,652,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Howard W. Robin sold 16,650 shares of Nektar Therapeutics stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $1.75, for a total value of $29,137.50. Following the completion of the sale, the chief executive officer now directly owns 863,239 shares of the company’s stock, valued at approximately $1,510,668.25. The disclosure for this sale can be found here. Insiders have sold a total of 99,505 shares of company stock worth $165,089 over the last three months. 3.71% of the stock is currently owned by insiders.

Institutional Trading of Nektar Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Nektar Therapeutics by 2,822.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock worth $684,000 after buying an additional 532,663 shares during the period. Values First Advisors Inc. purchased a new position in shares of Nektar Therapeutics in the second quarter valued at $56,000. SG Americas Securities LLC raised its stake in shares of Nektar Therapeutics by 63.0% during the 2nd quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock valued at $91,000 after purchasing an additional 28,338 shares during the period. Lynx1 Capital Management LP lifted its holdings in Nektar Therapeutics by 7.2% during the 1st quarter. Lynx1 Capital Management LP now owns 2,068,842 shares of the biopharmaceutical company’s stock worth $1,933,000 after purchasing an additional 139,644 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Nektar Therapeutics during the 1st quarter worth about $63,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Price Performance

Shares of NKTR stock opened at $1.36 on Tuesday. The firm has a 50-day moving average of $1.33 and a 200-day moving average of $1.13. Nektar Therapeutics has a one year low of $0.41 and a one year high of $1.93. The company has a market cap of $250.27 million, a P/E ratio of -1.48 and a beta of 0.66.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.03. Nektar Therapeutics had a negative net margin of 195.02% and a negative return on equity of 107.31%. The firm had revenue of $21.64 million during the quarter, compared to analyst estimates of $14.91 million. During the same quarter last year, the business posted ($0.25) EPS. As a group, research analysts expect that Nektar Therapeutics will post -0.84 earnings per share for the current fiscal year.

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.