BTIG Research Reiterates “Buy” Rating for Nektar Therapeutics (NASDAQ:NKTR)

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating restated by BTIG Research in a report issued on Monday, Marketbeat.com reports. They currently have a $4.00 price target on the biopharmaceutical company’s stock. BTIG Research’s price objective would suggest a potential upside of 207.69% from the stock’s previous close.

Separately, Rodman & Renshaw started coverage on Nektar Therapeutics in a report on Friday, June 28th. They set a “buy” rating and a $2.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Nektar Therapeutics presently has a consensus rating of “Hold” and an average price target of $2.33.

Nektar Therapeutics Price Performance

NASDAQ NKTR opened at $1.30 on Monday. The company has a market cap of $239.23 million, a P/E ratio of -1.41 and a beta of 0.60. The stock has a 50-day moving average of $1.25 and a two-hundred day moving average of $1.31. Nektar Therapeutics has a 1-year low of $0.41 and a 1-year high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The business had revenue of $23.49 million for the quarter, compared to analyst estimates of $17.24 million. Nektar Therapeutics had a negative return on equity of 133.64% and a negative net margin of 190.09%. During the same quarter last year, the company earned ($0.27) earnings per share. On average, analysts anticipate that Nektar Therapeutics will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Nektar Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its holdings in Nektar Therapeutics by 185.5% during the fourth quarter. GSA Capital Partners LLP now owns 5,255,790 shares of the biopharmaceutical company’s stock worth $2,970,000 after purchasing an additional 3,414,712 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Nektar Therapeutics by 2,822.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock worth $684,000 after acquiring an additional 532,663 shares in the last quarter. Samlyn Capital LLC purchased a new stake in Nektar Therapeutics in the second quarter valued at $11,728,000. Armistice Capital LLC purchased a new stake in Nektar Therapeutics in the second quarter valued at $1,037,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Nektar Therapeutics in the first quarter valued at $63,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

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.