Nektar Therapeutics (NASDAQ:NKTR) Receives $4.10 Consensus Price Target from Analysts

Nektar Therapeutics (NASDAQ:NKTR) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.10.

Several equities analysts have recently weighed in on the company. Piper Sandler started coverage on Nektar Therapeutics in a report on Monday, November 4th. They set an “overweight” rating and a $7.00 price target on the stock. BTIG Research reissued a “buy” rating and issued a $4.00 target price on shares of Nektar Therapeutics in a report on Monday, September 30th. Finally, HC Wainwright began coverage on Nektar Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $6.50 price target for the company.

Nektar Therapeutics Stock Down 1.3 %

Shares of Nektar Therapeutics stock opened at $0.93 on Friday. Nektar Therapeutics has a twelve month low of $0.46 and a twelve month high of $1.93. The company’s 50 day moving average is $1.18 and its 200 day moving average is $1.23. The company has a market cap of $171.23 million, a price-to-earnings ratio of -1.11 and a beta of 0.57.

Insider Activity at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 46,995 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total transaction of $47,464.95. Following the sale, the chief executive officer now owns 1,195,710 shares in the company, valued at approximately $1,207,667.10. This trade represents a 3.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Zalevsky sold 51,115 shares of Nektar Therapeutics stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total transaction of $48,048.10. Following the transaction, the insider now directly owns 326,904 shares in the company, valued at $307,289.76. This represents a 13.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,173 shares of company stock worth $119,817. Corporate insiders own 3.71% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Nektar Therapeutics by 96.1% in the third quarter. Barclays PLC now owns 358,294 shares of the biopharmaceutical company’s stock worth $466,000 after acquiring an additional 175,596 shares during the period. XTX Topco Ltd purchased a new position in Nektar Therapeutics in the 3rd quarter worth approximately $46,000. Jane Street Group LLC boosted its stake in Nektar Therapeutics by 50.0% in the 3rd quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 30,481 shares during the period. Wellington Management Group LLP purchased a new stake in Nektar Therapeutics during the 3rd quarter valued at approximately $615,000. Finally, State Street Corp grew its holdings in Nektar Therapeutics by 11.9% during the 3rd quarter. State Street Corp now owns 3,345,733 shares of the biopharmaceutical company’s stock valued at $4,349,000 after buying an additional 355,759 shares in the last quarter. 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.