Nektar Therapeutics (NASDAQ:NKTR) Research Coverage Started at B. Riley

B. Riley assumed coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $4.00 price objective on the biopharmaceutical company’s stock. B. Riley also issued estimates for Nektar Therapeutics’ Q4 2024 earnings at ($0.21) EPS, FY2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.19) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.23) EPS, FY2025 earnings at ($0.82) EPS, FY2026 earnings at ($0.79) EPS, FY2027 earnings at ($0.81) EPS, FY2028 earnings at ($0.76) EPS and FY2029 earnings at ($0.65) EPS.

A number of other brokerages also recently weighed in on NKTR. HC Wainwright began coverage on shares of Nektar Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $6.50 target price on the stock. Piper Sandler assumed coverage on shares of Nektar Therapeutics in a report on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price on the stock. Finally, BTIG Research reiterated a “buy” rating and set a $4.00 price target on shares of Nektar Therapeutics in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.08.

Nektar Therapeutics Stock Down 9.6 %

NKTR stock opened at $1.03 on Wednesday. Nektar Therapeutics has a twelve month low of $0.48 and a twelve month high of $1.93. The company has a market cap of $189.99 million, a price-to-earnings ratio of -1.23 and a beta of 0.59. The business has a 50 day moving average price of $1.09 and a two-hundred day moving average price of $1.21.

Insider Activity

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 51,115 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total transaction of $48,048.10. Following the transaction, the insider now owns 326,904 shares in the company, valued at $307,289.76. This represents a 13.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total transaction of $47,464.95. Following the completion of the sale, the chief executive officer now owns 1,195,710 shares of the company’s stock, valued at approximately $1,207,667.10. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,575 shares of company stock valued at $149,878. 3.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Nektar Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of Nektar Therapeutics by 30.4% during the 3rd quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 22,285 shares during the period. Victory Capital Management Inc. acquired a new position in Nektar Therapeutics in the second quarter valued at about $29,000. Valence8 US LP bought a new stake in Nektar Therapeutics during the third quarter worth about $34,000. Jane Street Group LLC grew its stake in Nektar Therapeutics by 50.0% during the third quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 30,481 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Nektar Therapeutics in the 3rd quarter valued at about $41,000. 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.