Analysts Set Nektar Therapeutics (NASDAQ:NKTR) Price Target at $3.00

Nektar Therapeutics (NASDAQ:NKTR) has received an average rating of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $3.00.

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

Insider Activity at Nektar Therapeutics

In other Nektar Therapeutics news, major shareholder Deep Track Capital, Lp sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $1.78, for a total value of $99,680.00. Following the completion of the sale, the insider now owns 18,344,000 shares in the company, valued at approximately $32,652,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Howard W. Robin sold 16,650 shares of Nektar Therapeutics stock in a transaction dated Friday, May 17th. The shares were 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 approximately $1,510,668.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $99,680.00. Following the completion of the sale, the insider now directly owns 18,344,000 shares in the company, valued at approximately $32,652,320. The disclosure for this sale can be found here. Insiders have sold 99,505 shares of company stock worth $165,089 over the last three months. Company insiders own 3.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of Nektar Therapeutics by 2,822.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock worth $684,000 after buying an additional 532,663 shares in the last quarter. Values First Advisors Inc. bought a new stake in Nektar Therapeutics in the second quarter valued at $56,000. SG Americas Securities LLC raised its stake in Nektar Therapeutics by 63.0% during the second quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock worth $91,000 after acquiring an additional 28,338 shares in the last quarter. Lynx1 Capital Management LP lifted its holdings in shares of Nektar Therapeutics by 7.2% during the first quarter. Lynx1 Capital Management LP now owns 2,068,842 shares of the biopharmaceutical company’s stock valued at $1,933,000 after acquiring an additional 139,644 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Nektar Therapeutics in the 1st quarter valued at $63,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Stock Performance

NKTR opened at $1.36 on Tuesday. The company has a market cap of $250.27 million, a PE ratio of -1.48 and a beta of 0.66. The stock has a 50-day moving average of $1.33 and a 200-day moving average of $1.13. 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, May 9th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.03. Nektar Therapeutics had a negative return on equity of 107.31% and a negative net margin of 195.02%. The firm had revenue of $21.64 million during the quarter, compared to analyst estimates of $14.91 million. During the same period in the previous year, the company earned ($0.25) EPS. On average, research analysts predict 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.