Nektar Therapeutics (NASDAQ:NKTR) Receives $4.10 Consensus Target Price from Brokerages

Shares of Nektar Therapeutics (NASDAQ:NKTR) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $4.10.

Several equities analysts recently weighed in on the company. BTIG Research reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Nektar Therapeutics in a research note on Monday, September 30th. HC Wainwright assumed coverage on Nektar Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $6.50 price target for the company. Finally, Piper Sandler assumed coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They issued an “overweight” rating and a $7.00 price objective on the stock.

Nektar Therapeutics Stock Up 0.8 %

Shares of NASDAQ NKTR opened at $0.91 on Friday. The firm has a 50-day moving average price of $1.16 and a 200 day moving average price of $1.23. Nektar Therapeutics has a 52 week low of $0.48 and a 52 week high of $1.93. The stock has a market capitalization of $167.45 million, a price-to-earnings ratio of -1.08 and a beta of 0.57.

Insider Activity at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $1.01, for a total value of $47,464.95. Following the transaction, the chief executive officer now directly owns 1,195,710 shares of the company’s stock, valued at approximately $1,207,667.10. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Zalevsky sold 51,115 shares of Nektar Therapeutics stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total value of $48,048.10. Following the completion of the transaction, the insider now owns 326,904 shares in the company, valued at $307,289.76. The trade was a 13.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,173 shares of company stock worth $119,817. 3.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nektar Therapeutics

A number of hedge funds have recently made changes to their positions in NKTR. Victory Capital Management Inc. acquired a new stake in Nektar Therapeutics in the 2nd quarter valued at $29,000. Valence8 US LP purchased a new stake in shares of Nektar Therapeutics in the third quarter worth about $34,000. Intech Investment Management LLC acquired a new stake in shares of Nektar Therapeutics in the third quarter valued at about $41,000. XTX Topco Ltd purchased a new stake in shares of Nektar Therapeutics during the 3rd quarter valued at about $46,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Nektar Therapeutics during the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

About Nektar Therapeutics

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.