Nektar Therapeutics (NASDAQ:NKTR) Receives $3.50 Consensus Target Price from Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTR) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $3.50.

A number of equities research analysts have issued reports on the company. Piper Sandler assumed coverage on Nektar Therapeutics in a research report on Monday, November 4th. They set an “overweight” rating and a $7.00 target price for the company. BTIG Research reaffirmed a “buy” rating and set a $4.00 target price on shares of Nektar Therapeutics in a research report on Monday, September 30th.

Nektar Therapeutics Stock Performance

NASDAQ:NKTR opened at $1.13 on Monday. The stock’s 50 day moving average price is $1.26 and its 200 day moving average price is $1.30. Nektar Therapeutics has a 52 week low of $0.42 and a 52 week high of $1.93. The company has a market capitalization of $208.44 million, a P/E ratio of -1.33 and a beta of 0.61.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds have recently modified their holdings of NKTR. Samlyn Capital LLC bought a new stake in shares of Nektar Therapeutics in the second quarter valued at approximately $11,728,000. Eventide Asset Management LLC raised its stake in shares of Nektar Therapeutics by 24.8% in the third quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock valued at $12,220,000 after purchasing an additional 1,870,904 shares in the last quarter. Millennium Management LLC raised its stake in shares of Nektar Therapeutics by 56.1% in the second quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock valued at $5,778,000 after purchasing an additional 1,674,924 shares in the last quarter. Nantahala Capital Management LLC raised its stake in shares of Nektar Therapeutics by 66.0% in the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock valued at $5,096,000 after purchasing an additional 1,634,046 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Nektar Therapeutics in the second quarter valued at $1,037,000. 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.