Nektar Therapeutics (NASDAQ:NKTR) Given Consensus Rating of “Buy” by Brokerages

Nektar Therapeutics (NASDAQ:NKTR) has received an average recommendation of “Buy” from the seven brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $4.92.

A number of brokerages have commented on NKTR. HC Wainwright restated a “buy” rating and issued a $6.50 target price on shares of Nektar Therapeutics in a research note on Thursday, March 13th. B. Riley assumed coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price objective for the company. Oppenheimer raised Nektar Therapeutics from a “market perform” rating to an “outperform” rating and set a $6.00 target price on the stock in a research report on Friday, March 14th. Finally, William Blair reissued a “market perform” rating on shares of Nektar Therapeutics in a report on Thursday, March 13th.

Nektar Therapeutics Price Performance

Shares of NKTR opened at $0.74 on Friday. The stock has a market capitalization of $137.72 million, a PE ratio of -0.88 and a beta of 0.65. The business’s fifty day moving average price is $0.85 and its 200 day moving average price is $1.05. Nektar Therapeutics has a 12-month low of $0.65 and a 12-month high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results 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 company had revenue of $29.18 million for the quarter, compared to the consensus estimate of $36.65 million. As a group, research analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nektar Therapeutics

A number of hedge funds have recently modified their holdings of NKTR. Wellington Management Group LLP increased its position in Nektar Therapeutics by 10.4% in the 4th quarter. Wellington Management Group LLP now owns 522,409 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 49,319 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Nektar Therapeutics by 801.4% in the fourth quarter. Mackenzie Financial Corp now owns 469,769 shares of the biopharmaceutical company’s stock valued at $437,000 after acquiring an additional 417,651 shares during the last quarter. US Asset Management LLC bought a new stake in Nektar Therapeutics in the fourth quarter worth approximately $31,000. Woodline Partners LP increased its stake in shares of Nektar Therapeutics by 187.3% during the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company’s stock worth $4,626,000 after purchasing an additional 3,242,841 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Nektar Therapeutics during the 4th quarter valued at $130,000. 75.88% of the stock is owned by institutional investors and hedge funds.

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.