Analysts Set Nektar Therapeutics (NASDAQ:NKTR) Price Target at $4.08

Nektar Therapeutics (NASDAQ:NKTR) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $4.08.

NKTR has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $6.50 target price on shares of Nektar Therapeutics in a report on Monday. BTIG Research reissued a “buy” rating and issued a $4.00 price objective on shares of Nektar Therapeutics in a research note on Monday, September 30th. Piper Sandler initiated coverage on shares of Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 target price on the stock. Finally, B. Riley initiated coverage on shares of Nektar Therapeutics in a report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 target price for the company.

Nektar Therapeutics Stock Performance

NASDAQ:NKTR opened at $0.89 on Tuesday. The stock has a 50-day simple moving average of $1.06 and a two-hundred day simple moving average of $1.21. Nektar Therapeutics has a 52-week low of $0.48 and a 52-week high of $1.93. The firm has a market capitalization of $164.48 million, a PE ratio of -1.06 and a beta of 0.59.

Insider Activity at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total transaction of $47,464.95. Following the completion of the transaction, the chief executive officer now owns 1,195,710 shares of the company’s stock, valued at $1,207,667.10. This represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Andrew Wilson sold 33,402 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.90, for a total value of $30,061.80. Following the transaction, the insider now owns 351,892 shares of the company’s stock, valued at approximately $316,702.80. The trade was a 8.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,575 shares of company stock valued at $149,878. Corporate insiders own 3.71% of the company’s stock.

Institutional Trading of Nektar Therapeutics

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in Nektar Therapeutics by 2,822.5% in the second quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock worth $684,000 after purchasing an additional 532,663 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Nektar Therapeutics by 3,377.0% in the 2nd quarter. Rhumbline Advisers now owns 185,116 shares of the biopharmaceutical company’s stock worth $230,000 after buying an additional 179,792 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Nektar Therapeutics during the 2nd quarter valued at about $29,000. Samlyn Capital LLC bought a new position in shares of Nektar Therapeutics in the 2nd quarter valued at about $11,728,000. Finally, Armistice Capital LLC purchased a new position in Nektar Therapeutics in the second quarter worth about $1,037,000. 75.88% of the stock is owned by hedge funds and other 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.