Nektar Therapeutics (NASDAQ:NKTR) Given Average Recommendation of "Buy" by Brokerages

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $4.50.

A number of equities research analysts recently commented on the company. HC Wainwright reissued a "buy" rating and issued a $6.50 price target on shares of Nektar Therapeutics in a research report on Thursday, March 13th. Jefferies Financial Group upgraded shares of Nektar Therapeutics from a "hold" rating to a "buy" rating and increased their target price for the company from $1.00 to $2.00 in a report on Friday, April 11th. Oppenheimer upgraded shares of Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $6.00 price target on the stock in a report on Friday, March 14th. B. Riley started coverage on shares of Nektar Therapeutics in a research note on Wednesday, January 8th. They issued a "buy" rating and a $4.00 price objective for the company. Finally, StockNews.com assumed coverage on Nektar Therapeutics in a research note on Wednesday, April 16th. They issued a "hold" rating on the stock.

Nektar Therapeutics Price Performance

Shares of NASDAQ NKTR traded up $0.04 during mid-day trading on Thursday, reaching $0.78. 3,162,228 shares of the company's stock traded hands, compared to its average volume of 1,817,051. The business has a 50-day simple moving average of $0.74 and a 200 day simple moving average of $0.95. The stock has a market cap of $144.25 million, a P/E ratio of -0.92 and a beta of 0.69. Nektar Therapeutics has a 1-year low of $0.43 and a 1-year high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.33. The business had revenue of $29.18 million during the quarter, compared to the consensus estimate of $36.65 million. Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. Equities research analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC grew its holdings in Nektar Therapeutics by 56.3% during the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 9,958 shares during the period. Harvest Investment Services LLC bought a new position in shares of Nektar Therapeutics during the 4th quarter worth $27,000. US Asset Management LLC purchased a new stake in Nektar Therapeutics in the 4th quarter worth about $31,000. Moloney Securities Asset Management LLC raised its stake in Nektar Therapeutics by 42.4% in the 4th quarter. Moloney Securities Asset Management LLC now owns 50,000 shares of the biopharmaceutical company's stock valued at $46,000 after acquiring an additional 14,895 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Nektar Therapeutics by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 50,277 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 16,543 shares during the last quarter. 75.88% of the stock is 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.