Nektar Therapeutics (NASDAQ:NKTR) Raised to “Outperform” at Oppenheimer

Nektar Therapeutics (NASDAQ:NKTR) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, Marketbeat reports. The firm currently has a $6.00 price target on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the company. B. Riley initiated coverage on Nektar Therapeutics in a report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price objective for the company. William Blair reaffirmed a “market perform” rating on shares of Nektar Therapeutics in a research note on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.50 target price on shares of Nektar Therapeutics in a research note on Thursday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $4.92.

Nektar Therapeutics Stock Down 0.6 %

NASDAQ:NKTR opened at $0.82 on Friday. The firm has a market capitalization of $150.41 million, a P/E ratio of -0.97 and a beta of 0.65. Nektar Therapeutics has a 52 week low of $0.65 and a 52 week high of $1.93. The company has a fifty day moving average of $0.89 and a 200 day moving average of $1.08.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.33. The firm had revenue of $29.18 million during the quarter, compared to the consensus estimate of $36.65 million. Nektar Therapeutics had a negative net margin of 180.70% and a negative return on equity of 173.28%. As a group, analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current year.

Insider Buying and Selling

In related news, insider Jonathan Zalevsky sold 51,115 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $0.94, for a total value of $48,048.10. Following the sale, the insider now owns 326,904 shares in the company, valued at $307,289.76. This represents a 13.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total value of $47,464.95. Following the transaction, the chief executive officer now owns 1,195,710 shares of the company’s stock, valued at $1,207,667.10. The trade was a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,586 shares of company stock worth $159,990 in the last three months. 3.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC boosted its stake in Nektar Therapeutics by 56.3% in the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 9,958 shares in the last quarter. Harvest Investment Services LLC purchased a new position in Nektar Therapeutics in the fourth quarter worth about $27,000. US Asset Management LLC bought a new position in shares of Nektar Therapeutics in the fourth quarter worth approximately $31,000. Valence8 US LP purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $34,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $41,000. 75.88% of the stock is currently owned by institutional investors.

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.