Nektar Therapeutics (NASDAQ:NKTR) Upgraded to “Strong-Buy” at B. Riley

Nektar Therapeutics (NASDAQ:NKTR) was upgraded by analysts at B. Riley to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently weighed in on NKTR. HC Wainwright began coverage on shares of Nektar Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $6.50 price target on the stock. BTIG Research reaffirmed a “buy” rating and set a $4.00 target price on shares of Nektar Therapeutics in a research note on Monday, September 30th. Finally, Piper Sandler assumed coverage on shares of Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 price target for the company. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Nektar Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $4.08.

Nektar Therapeutics Stock Performance

Shares of Nektar Therapeutics stock opened at $1.14 on Tuesday. The business’s 50 day moving average price is $1.09 and its 200 day moving average price is $1.21. The company has a market cap of $210.28 million, a price-to-earnings ratio of -1.36 and a beta of 0.59. Nektar Therapeutics has a one year low of $0.48 and a one year high of $1.93.

Insider Buying and Selling at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 51,115 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $0.94, for a total transaction of $48,048.10. Following the sale, the insider now owns 326,904 shares of the company’s stock, valued at approximately $307,289.76. This represents a 13.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total transaction of $47,464.95. Following the completion of the transaction, the chief executive officer now owns 1,195,710 shares of the company’s stock, 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. Insiders sold a total of 155,575 shares of company stock worth $149,878 over the last three months. Insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. purchased a new stake in shares of Nektar Therapeutics during the second quarter worth approximately $29,000. Valence8 US LP purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $34,000. Intech Investment Management LLC acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at $41,000. XTX Topco Ltd acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at $46,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Nektar Therapeutics during the 3rd quarter worth $61,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

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.