Nektar Therapeutics (NASDAQ:NKTR) Receives $3.50 Average Price Target from Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTR) have earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $3.00.

Separately, Rodman & Renshaw started coverage on shares of Nektar Therapeutics in a research note on Friday, June 28th. They set a “buy” rating and a $2.00 price target for the company.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, major shareholder Deep Track Capital, Lp sold 56,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $1.78, for a total transaction of $99,680.00. Following the sale, the insider now directly owns 18,344,000 shares of the company’s stock, valued at $32,652,320. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Howard W. Robin sold 16,650 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $1.75, for a total transaction of $29,137.50. Following the sale, the chief executive officer now directly owns 863,239 shares in the company, valued at $1,510,668.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Deep Track Capital, Lp sold 56,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $1.78, for a total value of $99,680.00. Following the sale, the insider now owns 18,344,000 shares in the company, valued at $32,652,320. The disclosure for this sale can be found here. Insiders have sold a total of 99,505 shares of company stock valued at $165,089 over the last three months. 3.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NKTR. Barclays PLC increased its position in shares of Nektar Therapeutics by 300.9% in the third quarter. Barclays PLC now owns 229,841 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 172,509 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Nektar Therapeutics by 931.5% in the third quarter. GSA Capital Partners LLP now owns 1,841,078 shares of the biopharmaceutical company’s stock worth $1,097,000 after purchasing an additional 1,662,589 shares during the last quarter. RA Capital Management L.P. bought a new position in Nektar Therapeutics during the third quarter valued at approximately $11,138,000. Citigroup Inc. grew its position in Nektar Therapeutics by 1,993.9% during the third quarter. Citigroup Inc. now owns 77,978 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 74,254 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Nektar Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 101,687 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 23,829 shares during the last quarter. 75.88% of the stock is currently owned by institutional investors.

Nektar Therapeutics Stock Performance

Shares of NASDAQ NKTR opened at $1.30 on Friday. The company has a market capitalization of $239.23 million, a P/E ratio of -1.41 and a beta of 0.66. Nektar Therapeutics has a 52-week low of $0.41 and a 52-week high of $1.93. The company’s 50 day moving average price is $1.42 and its 200-day moving average price is $1.02.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.03. The company had revenue of $21.64 million during the quarter, compared to analyst estimates of $14.91 million. Nektar Therapeutics had a negative net margin of 195.02% and a negative return on equity of 107.31%. During the same quarter in the previous year, the business posted ($0.25) EPS. Analysts forecast that Nektar Therapeutics will post -0.84 earnings per share for the current year.

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.