SVB Leerink Boosts Nektar Therapeutics (NASDAQ:NKTR) Price Target to $21.00

Nektar Therapeutics (NASDAQ:NKTR) had its target price lifted by investment analysts at SVB Leerink from $20.00 to $21.00 in a research report issued on Tuesday, Stock Target Advisor reports. The brokerage presently has a “market perform” rating on the biopharmaceutical company’s stock. SVB Leerink’s target price points to a potential upside of 7.03% from the company’s previous close.

A number of other research analysts have also commented on NKTR. Stifel Nicolaus initiated coverage on Nektar Therapeutics in a research note on Tuesday, January 5th. They issued a “hold” rating and a $18.00 target price for the company. Benchmark restated a “hold” rating and issued a $26.00 target price on shares of Nektar Therapeutics in a research note on Monday, March 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.75.

Shares of NASDAQ NKTR opened at $19.62 on Tuesday. The business has a fifty day simple moving average of $22.02 and a 200 day simple moving average of $18.91. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -7.91 and a beta of 1.76. Nektar Therapeutics has a one year low of $15.40 and a one year high of $26.75.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, February 25th. The biopharmaceutical company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.03. The business had revenue of $23.46 million during the quarter, compared to analyst estimates of $19.64 million. Nektar Therapeutics had a negative return on equity of 30.74% and a negative net margin of 269.05%. During the same period in the prior year, the company posted ($0.64) earnings per share. On average, equities analysts anticipate that Nektar Therapeutics will post -2.2 EPS for the current year.

In other news, SVP Mark Andrew Wilson sold 5,344 shares of the stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $19.45, for a total transaction of $103,940.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jillian B. Thomsen sold 75,000 shares of the stock in a transaction on Thursday, January 28th. The stock was sold at an average price of $18.62, for a total value of $1,396,500.00. The disclosure for this sale can be found here. Insiders have sold 330,344 shares of company stock valued at $6,457,441 over the last quarter. Corporate insiders own 2.99% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in shares of Nektar Therapeutics by 2.0% during the third quarter. California State Teachers Retirement System now owns 297,328 shares of the biopharmaceutical company’s stock worth $4,933,000 after purchasing an additional 5,870 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Nektar Therapeutics by 26.2% during the fourth quarter. First Trust Advisors LP now owns 3,814,215 shares of the biopharmaceutical company’s stock worth $64,842,000 after purchasing an additional 791,605 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Nektar Therapeutics by 2.7% during the third quarter. Cubist Systematic Strategies LLC now owns 84,789 shares of the biopharmaceutical company’s stock worth $1,407,000 after purchasing an additional 2,259 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Nektar Therapeutics by 9.3% in the fourth quarter. Nordea Investment Management AB now owns 31,180 shares of the biopharmaceutical company’s stock valued at $530,000 after acquiring an additional 2,663 shares during the last quarter. Finally, Avoro Capital Advisors LLC bought a new position in Nektar Therapeutics in the fourth quarter valued at about $26,000. Institutional investors own 95.32% of the company’s stock.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, researches and develops drug candidates for cancer and auto-immune disease in the United States. The company develops Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of non-small cell lung cancer and immuno-oncology; and phase 1B clinical trial to treat COVID-19.It is also developing NKTR-358, 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 1B clinical trial to treat atopic dermatitis and psoriasis; NKTR-255, an IL-15 receptor agonist, which is in phase 2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer and colorectal cancer; and NKTR-262, a toll-like receptor agonist that is in phase 1/2 clinical trial to treat locally advanced or metastatic solid tumor malignancies, as well as various other drug candidates.

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