Brokerages Set Nektar Therapeutics (NASDAQ:NKTR) Price Target at $4.92

Shares of Nektar Therapeutics (NASDAQ:NKTR) have received a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.92.

NKTR has been the topic of a number of recent analyst reports. Oppenheimer upgraded Nektar Therapeutics from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a report on Friday, March 14th. B. Riley initiated coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $6.50 price target on shares of Nektar Therapeutics in a report on Thursday, March 13th. Finally, William Blair restated a “market perform” rating on shares of Nektar Therapeutics in a report on Thursday, March 13th.

Nektar Therapeutics Price Performance

NASDAQ NKTR opened at $0.64 on Friday. The company has a fifty day moving average price of $0.84 and a 200-day moving average price of $1.04. The firm has a market cap of $118.60 million, a price-to-earnings ratio of -0.76 and a beta of 0.65. Nektar Therapeutics has a 1 year low of $0.64 and a 1 year high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.33. Nektar Therapeutics had a negative net margin of 180.70% and a negative return on equity of 173.28%. The business had revenue of $29.18 million during the quarter, compared to the consensus estimate of $36.65 million. On average, research analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Nektar Therapeutics

Several large investors have recently added to or reduced their stakes in NKTR. Intech Investment Management LLC bought a new position in Nektar Therapeutics during the third quarter worth about $41,000. The Manufacturers Life Insurance Company bought a new position in Nektar Therapeutics in the 3rd quarter worth approximately $86,000. FMR LLC grew its stake in Nektar Therapeutics by 403.2% in the 3rd quarter. FMR LLC now owns 386,656 shares of the biopharmaceutical company’s stock valued at $503,000 after buying an additional 309,822 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Nektar Therapeutics by 1,877.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 238,846 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 226,766 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in Nektar Therapeutics by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 106,506 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 60,012 shares during the period. Hedge funds and other institutional investors own 75.88% of the company’s stock.

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.