Nektar Therapeutics (NASDAQ:NKTR) Upgraded to “Outperform” at Oppenheimer

Oppenheimer upgraded shares of Nektar Therapeutics (NASDAQ:NKTR) from a market perform rating to an outperform rating in a research note issued to investors on Friday morning, Marketbeat reports. Oppenheimer currently has $6.00 price target on the biopharmaceutical company’s stock.

NKTR has been the topic of several other reports. B. Riley started coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price target on the stock. William Blair restated a “market perform” rating on shares of Nektar Therapeutics in a report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $6.50 target price on shares of Nektar Therapeutics in a research note on Thursday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $4.92.

Nektar Therapeutics Stock Up 10.0 %

Nektar Therapeutics stock opened at $0.90 on Friday. The stock has a market cap of $165.42 million, a price-to-earnings ratio of -1.07 and a beta of 0.65. Nektar Therapeutics has a 12-month low of $0.65 and a 12-month high of $1.93. The business’s 50-day simple moving average is $0.88 and its 200 day simple moving average is $1.08.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.33. Nektar Therapeutics had a negative net margin of 180.70% and a negative return on equity of 173.28%. The business had revenue of $29.18 million during the quarter, compared to the consensus estimate of $36.65 million. As a group, sell-side analysts expect that Nektar Therapeutics will post -0.72 EPS for the current year.

Insider Buying and Selling at Nektar Therapeutics

In related news, insider Mark Andrew Wilson sold 33,402 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $0.90, for a total value of $30,061.80. Following the sale, the insider now owns 351,892 shares of the company’s stock, valued at approximately $316,702.80. This trade represents a 8.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Howard W. Robin sold 46,995 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,586 shares of company stock valued at $159,990. 3.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nektar Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its position in Nektar Therapeutics by 801.4% during the fourth quarter. Mackenzie Financial Corp now owns 469,769 shares of the biopharmaceutical company’s stock valued at $437,000 after purchasing an additional 417,651 shares during the last quarter. US Asset Management LLC bought a new stake in shares of Nektar Therapeutics during the 4th quarter worth approximately $31,000. Woodline Partners LP boosted its holdings in shares of Nektar Therapeutics by 187.3% in the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company’s stock valued at $4,626,000 after buying an additional 3,242,841 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Nektar Therapeutics in the fourth quarter valued at $130,000. Finally, Two Sigma Investments LP increased its holdings in Nektar Therapeutics by 12.8% during the fourth quarter. Two Sigma Investments LP now owns 1,537,355 shares of the biopharmaceutical company’s stock worth $1,430,000 after buying an additional 174,185 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.