Nektar Therapeutics (NASDAQ:NKTR) Receives $2.33 Consensus Price Target from Analysts

Nektar Therapeutics (NASDAQ:NKTR) has received an average recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $3.50.

NKTR has been the subject of several research reports. BTIG Research reissued a “buy” rating and issued a $4.00 price target on shares of Nektar Therapeutics in a research report on Monday, September 30th. Piper Sandler started coverage on shares of Nektar Therapeutics in a report on Monday. They issued an “overweight” rating and a $7.00 target price on the stock.

Nektar Therapeutics Price Performance

NKTR stock opened at $1.39 on Thursday. The company’s 50-day moving average is $1.28 and its 200-day moving average is $1.34. Nektar Therapeutics has a 1 year low of $0.41 and a 1 year high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). Nektar Therapeutics had a negative net margin of 190.09% and a negative return on equity of 133.64%. The firm had revenue of $23.49 million during the quarter, compared to analyst estimates of $17.24 million. During the same period last year, the business posted ($0.27) EPS. As a group, equities analysts predict that Nektar Therapeutics will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds have recently modified their holdings of NKTR. Samlyn Capital LLC bought a new position in shares of Nektar Therapeutics in the second quarter valued at approximately $11,728,000. Millennium Management LLC grew its stake in Nektar Therapeutics by 56.1% in the 2nd 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 during the period. Nantahala Capital Management LLC grew its stake in Nektar Therapeutics by 66.0% in the 2nd 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 during the period. Lynx1 Capital Management LP increased its position in shares of Nektar Therapeutics by 7.2% during the 1st quarter. Lynx1 Capital Management LP now owns 2,068,842 shares of the biopharmaceutical company’s stock valued at $1,933,000 after purchasing an additional 139,644 shares during the last quarter. Finally, Armistice Capital LLC bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth $1,037,000. 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.