Nektar Therapeutics (NASDAQ:NKTR) Shares Up 7.7% – What’s Next?

Nektar Therapeutics (NASDAQ:NKTR)’s stock price was up 7.7% during trading on Tuesday . The stock traded as high as $70.74 and last traded at $70.4290. Approximately 484,115 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 1,104,051 shares. The stock had previously closed at $65.39.

Wall Street Analysts Forecast Growth

NKTR has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. Oppenheimer reissued an “outperform” rating and set a $140.00 price target on shares of Nektar Therapeutics in a research report on Friday, March 13th. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. Wedbush cut their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Finally, TD Cowen assumed coverage on shares of Nektar Therapeutics in a research note on Tuesday, March 17th. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nektar Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.62.

Nektar Therapeutics Stock Up 8.6%

The firm’s 50 day simple moving average is $71.16 and its two-hundred day simple moving average is $62.48. The stock has a market cap of $2.40 billion, a P/E ratio of -8.43 and a beta of 1.14.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The business had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. As a group, equities analysts predict that Nektar Therapeutics will post -9.45 EPS for the current year.

Insider Activity

In other Nektar Therapeutics news, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total value of $603,200.00. Following the transaction, the chief executive officer owned 65,045 shares of the company’s stock, valued at $3,923,514.40. This trade represents a 13.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan Zalevsky sold 5,538 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $60.71, for a total value of $336,211.98. Following the completion of the transaction, the insider owned 15,437 shares of the company’s stock, valued at approximately $937,180.27. The trade was a 26.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,181 shares of company stock worth $981,535. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 210 shares during the last quarter. KBC Group NV acquired a new stake in Nektar Therapeutics in the first quarter worth $52,000. Headlands Technologies LLC bought a new stake in Nektar Therapeutics in the second quarter valued at $65,000. State of Wyoming acquired a new position in shares of Nektar Therapeutics during the first quarter valued at $67,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Nektar Therapeutics during the first quarter valued at $68,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

About Nektar Therapeutics

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.