Nektar Therapeutics (NASDAQ:NKTR) Receives Average Recommendation of "Buy" from Analysts

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.70.

NKTR has been the subject of a number of analyst reports. B. Riley initiated coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They issued a "buy" rating and a $4.00 price target for the company. William Blair reiterated a "market perform" rating on shares of Nektar Therapeutics in a research report on Tuesday, February 25th. Finally, HC Wainwright reiterated a "buy" rating and set a $6.50 target price on shares of Nektar Therapeutics in a research report on Tuesday, February 25th.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, insider Mark Andrew Wilson sold 33,402 shares of Nektar Therapeutics stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.90, for a total value of $30,061.80. Following the transaction, the insider now owns 351,892 shares in the company, valued at $316,702.80. The trade was a 8.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total value of $47,464.95. Following the completion of the transaction, the chief executive officer now owns 1,195,710 shares in the company, valued at $1,207,667.10. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,586 shares of company stock worth $159,990. 3.71% of the stock is currently owned by insiders.

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Institutional Investors Weigh In On Nektar Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Eventide Asset Management LLC lifted its holdings in shares of Nektar Therapeutics by 24.8% during the third quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company's stock worth $12,220,000 after purchasing an additional 1,870,904 shares during the period. Nantahala Capital Management LLC lifted its holdings in shares of Nektar Therapeutics by 90.0% during the fourth quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company's stock worth $7,263,000 after purchasing an additional 3,700,000 shares during the period. Woodline Partners LP lifted its holdings in Nektar Therapeutics by 187.3% in the fourth quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company's stock valued at $4,626,000 after acquiring an additional 3,242,841 shares during the period. Renaissance Technologies LLC lifted its holdings in Nektar Therapeutics by 17.5% in the fourth quarter. Renaissance Technologies LLC now owns 3,910,786 shares of the biopharmaceutical company's stock valued at $3,637,000 after acquiring an additional 583,153 shares during the period. Finally, State Street Corp lifted its holdings in Nektar Therapeutics by 11.9% in the third quarter. State Street Corp now owns 3,345,733 shares of the biopharmaceutical company's stock valued at $4,349,000 after acquiring an additional 355,759 shares during the period. Institutional investors and hedge funds own 75.88% of the company's stock.

Nektar Therapeutics Stock Up 2.0 %

NKTR traded up $0.02 during trading on Wednesday, reaching $0.88. The company had a trading volume of 841,337 shares, compared to its average volume of 1,852,723. The stock has a market cap of $161.95 million, a P/E ratio of -1.05 and a beta of 0.65. The business has a 50 day simple moving average of $0.90 and a 200-day simple moving average of $1.10. Nektar Therapeutics has a 52 week low of $0.65 and a 52 week high of $1.93.

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.