Nektar Therapeutics (NASDAQ:NKTR) Receives $4.08 Consensus PT from Brokerages

Shares of Nektar Therapeutics (NASDAQ:NKTR) have been assigned an average recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $4.70.

A number of research analysts recently commented on the company. HC Wainwright restated a “buy” rating and issued a $6.50 price target on shares of Nektar Therapeutics in a research report on Tuesday, February 25th. William Blair restated a “market perform” rating on shares of Nektar Therapeutics in a research report on Tuesday, February 25th. Finally, B. Riley assumed coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price target on the stock.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, insider Mark Andrew Wilson sold 33,402 shares of Nektar Therapeutics stock in a transaction dated Monday, December 23rd. The stock was 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 in the company, valued at $316,702.80. The trade was a 8.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total value of $47,464.95. Following the completion of the transaction, the chief executive officer now owns 1,195,710 shares in the company, valued at approximately $1,207,667.10. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,586 shares of company stock worth $159,990 over the last 90 days. Insiders own 3.71% of the company’s stock.

Institutional Trading of Nektar Therapeutics

A number of hedge funds have recently made changes to their positions in NKTR. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Nektar Therapeutics by 5.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 650,841 shares of the biopharmaceutical company’s stock valued at $846,000 after purchasing an additional 34,599 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Nektar Therapeutics during the third quarter valued at about $41,000. Valence8 US LP acquired a new stake in shares of Nektar Therapeutics during the third quarter valued at about $34,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Nektar Therapeutics during the third quarter valued at about $86,000. Finally, FMR LLC boosted its stake in shares of Nektar Therapeutics by 403.2% during the third quarter. FMR LLC now owns 386,656 shares of the biopharmaceutical company’s stock valued at $503,000 after purchasing an additional 309,822 shares in the last quarter. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Price Performance

NKTR stock opened at $0.88 on Wednesday. The stock has a market capitalization of $161.95 million, a price-to-earnings ratio of -1.05 and a beta of 0.65. The business’s fifty day moving average price is $0.90 and its two-hundred day moving average price is $1.10. Nektar Therapeutics has a fifty-two week low of $0.65 and a fifty-two week high of $1.93.

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.