Nektar Therapeutics (NASDAQ:NKTR) Receives $4.08 Average Price Target from Brokerages

Shares of Nektar Therapeutics (NASDAQ:NKTR) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.08.

A number of analysts have recently issued reports on the company. B. Riley started coverage on Nektar Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $4.00 target price for the company. Piper Sandler started coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They issued an “overweight” rating and a $7.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $6.50 target price on shares of Nektar Therapeutics in a report on Monday, January 13th.

Insiders Place Their Bets

In related news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction dated Tuesday, December 17th. The stock was 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 of the company’s stock, valued at approximately $1,207,667.10. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jonathan Zalevsky sold 51,115 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total value of $48,048.10. Following the completion of the transaction, the insider now directly owns 326,904 shares in the company, valued at approximately $307,289.76. The trade was a 13.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,575 shares of company stock worth $149,878 in the last quarter. 3.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC grew its stake in Nektar Therapeutics by 90.0% in the fourth quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company’s stock worth $7,263,000 after purchasing an additional 3,700,000 shares in the last quarter. Northern Trust Corp lifted its holdings in Nektar Therapeutics by 0.9% during the 4th quarter. Northern Trust Corp now owns 1,414,984 shares of the biopharmaceutical company’s stock worth $1,316,000 after buying an additional 12,826 shares during the last quarter. Boothbay Fund Management LLC grew its position in shares of Nektar Therapeutics by 59.3% in the 4th quarter. Boothbay Fund Management LLC now owns 555,876 shares of the biopharmaceutical company’s stock worth $517,000 after acquiring an additional 206,908 shares in the last quarter. Two Sigma Securities LLC increased its holdings in shares of Nektar Therapeutics by 56.3% in the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 9,958 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Nektar Therapeutics by 200.3% during the 4th quarter. Voya Investment Management LLC now owns 181,679 shares of the biopharmaceutical company’s stock valued at $169,000 after acquiring an additional 121,187 shares in the last quarter. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Trading Up 10.2 %

Shares of NKTR opened at $0.98 on Friday. The stock’s fifty day simple moving average is $0.92 and its 200 day simple moving average is $1.13. Nektar Therapeutics has a twelve month low of $0.63 and a twelve month high of $1.93. The firm has a market capitalization of $181.25 million, a P/E ratio of -1.17 and a beta of 0.58.

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.