Nektar Therapeutics (NASDAQ:NKTR) Now Covered by Piper Sandler

Analysts at Piper Sandler started coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report released on Monday, Benzinga reports. The brokerage set an “overweight” rating and a $7.00 price target on the biopharmaceutical company’s stock. Piper Sandler’s target price suggests a potential upside of 469.11% from the company’s current price.

Separately, BTIG Research reiterated a “buy” rating and issued a $4.00 price objective on shares of Nektar Therapeutics in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Nektar Therapeutics currently has a consensus rating of “Hold” and an average price target of $3.50.

Nektar Therapeutics Stock Up 3.4 %

Shares of NASDAQ NKTR opened at $1.23 on Monday. The stock has a market capitalization of $226.42 million, a PE ratio of -1.37 and a beta of 0.61. The firm has a fifty day moving average of $1.28 and a 200-day moving average of $1.34. Nektar Therapeutics has a 52-week low of $0.41 and a 52-week high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $23.49 million for the quarter, compared to analyst estimates of $17.24 million. During the same quarter in the previous year, the firm posted ($0.27) EPS. Equities research analysts expect that Nektar Therapeutics will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Samlyn Capital LLC bought a new position in Nektar Therapeutics in the 2nd quarter worth about $11,728,000. Millennium Management LLC grew its position 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 worth $5,778,000 after purchasing an additional 1,674,924 shares during the last quarter. Nantahala Capital Management LLC grew its position 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 worth $5,096,000 after purchasing an additional 1,634,046 shares during the last quarter. Lynx1 Capital Management LP grew its position in Nektar Therapeutics by 7.2% in the 1st quarter. Lynx1 Capital Management LP now owns 2,068,842 shares of the biopharmaceutical company’s stock worth $1,933,000 after purchasing an additional 139,644 shares during the last quarter. Finally, Armistice Capital LLC bought a new position in Nektar Therapeutics in the 2nd quarter worth about $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.