Nektar Therapeutics (NASDAQ:NKTR) Receives $4.92 Consensus Target Price from Analysts

Nektar Therapeutics (NASDAQ:NKTR) has earned an average rating of “Buy” from the seven analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $4.92.

Several equities research analysts have recently weighed in on NKTR shares. William Blair reiterated a “market perform” rating on shares of Nektar Therapeutics in a research note on Thursday, March 13th. B. Riley initiated coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $6.50 target price on shares of Nektar Therapeutics in a report on Thursday, March 13th. Finally, Oppenheimer upgraded shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research report on Friday, March 14th.

Nektar Therapeutics Stock Down 8.1 %

NKTR opened at $0.55 on Friday. Nektar Therapeutics has a 52 week low of $0.53 and a 52 week high of $1.93. The business’s 50 day moving average is $0.82 and its two-hundred day moving average is $1.03. The firm has a market cap of $102.71 million, a price-to-earnings ratio of -0.66 and a beta of 0.69.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Wednesday, March 12th. The biopharmaceutical company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.33. The business had revenue of $29.18 million for the quarter, compared to analysts’ expectations of $36.65 million. Nektar Therapeutics had a negative net margin of 180.70% and a negative return on equity of 173.28%. Equities analysts expect that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Nektar Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC increased its stake in shares of Nektar Therapeutics by 90.0% during the 4th 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 in the last quarter. Woodline Partners LP increased its position in Nektar Therapeutics by 187.3% during the fourth quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company’s stock worth $4,626,000 after buying an additional 3,242,841 shares in the last quarter. Altium Capital Management LLC raised its holdings in shares of Nektar Therapeutics by 26,172.0% in the fourth quarter. Altium Capital Management LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $2,790,000 after acquiring an additional 2,988,581 shares during the last quarter. 22NW LP purchased a new stake in shares of Nektar Therapeutics in the fourth quarter valued at $2,038,000. Finally, Peapod Lane Capital LLC acquired a new stake in shares of Nektar Therapeutics during the fourth quarter valued at $1,030,000. Institutional investors and hedge funds 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.