Nektar Therapeutics’ (NKTR) Buy Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report published on Monday, MarketBeat Ratings reports. BTIG Research currently has a $4.00 price target on the biopharmaceutical company’s stock.

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 objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $2.33.

Nektar Therapeutics Trading Up 2.3 %

Shares of NKTR opened at $1.33 on Monday. The company’s fifty day simple moving average is $1.25 and its 200-day simple moving average is $1.31. The company has a market cap of $244.75 million, a P/E ratio of -1.45 and a beta of 0.60. Nektar Therapeutics has a twelve month low of $0.41 and a twelve month high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). Nektar Therapeutics had a negative return on equity of 133.64% and a negative net margin of 190.09%. The firm had revenue of $23.49 million during the quarter, compared to analysts’ expectations of $17.24 million. During the same period last year, the company earned ($0.27) earnings per share. Analysts predict that Nektar Therapeutics will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nektar Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in shares of Nektar Therapeutics in the second quarter valued at approximately $29,000. SG Americas Securities LLC grew its position in shares of Nektar Therapeutics by 63.0% during the 2nd quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock worth $91,000 after buying an additional 28,338 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Nektar Therapeutics during the second quarter valued at $56,000. Marquette Asset Management LLC raised its holdings in shares of Nektar Therapeutics by 24.8% in the first quarter. Marquette Asset Management LLC now owns 232,289 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 46,126 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Nektar Therapeutics in the first quarter worth about $63,000. 75.88% of the stock is owned by hedge funds and other 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.