Brokerages Set Nektar Therapeutics (NASDAQ:NKTR) PT at $3.50

Shares of Nektar Therapeutics (NASDAQ:NKTR) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $3.50.

A number of equities research analysts recently issued reports on NKTR shares. Piper Sandler began coverage on Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price on the stock. BTIG Research restated a “buy” rating and issued a $4.00 target price on shares of Nektar Therapeutics in a report on Monday, September 30th.

Nektar Therapeutics Price Performance

Shares of NASDAQ NKTR opened at $1.14 on Monday. The firm’s 50-day moving average is $1.26 and its two-hundred day moving average is $1.29. The company has a market capitalization of $210.28 million, a PE ratio of -1.36 and a beta of 0.61. Nektar Therapeutics has a 12-month low of $0.46 and a 12-month high of $1.93.

Hedge Funds Weigh In On Nektar Therapeutics

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