Nektar Therapeutics (NASDAQ:NKTR) Upgraded by B. Riley to “Strong-Buy” Rating

B. Riley upgraded shares of Nektar Therapeutics (NASDAQ:NKTR) to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also commented on NKTR. Piper Sandler initiated coverage on Nektar Therapeutics in a research report on Monday, November 4th. They issued an “overweight” rating and a $7.00 price target on the stock. BTIG Research reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Nektar Therapeutics in a research note on Monday, September 30th. Finally, HC Wainwright began coverage on Nektar Therapeutics in a report on Tuesday, December 10th. They issued a “buy” rating and a $6.50 target price on the stock. Three 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 stock. Based on data from MarketBeat.com, Nektar Therapeutics has an average rating of “Moderate Buy” and an average price target of $4.08.

Nektar Therapeutics Stock Performance

Shares of NASDAQ:NKTR opened at $1.14 on Tuesday. Nektar Therapeutics has a 52 week low of $0.48 and a 52 week high of $1.93. The firm has a market cap of $210.28 million, a PE ratio of -1.36 and a beta of 0.59. The firm’s fifty day moving average is $1.09 and its 200-day moving average is $1.21.

Insider Activity at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 46,995 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,195,710 shares in the company, valued at $1,207,667.10. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 51,115 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $0.94, for a total value of $48,048.10. Following the transaction, the insider now owns 326,904 shares of the company’s stock, valued at $307,289.76. The trade was a 13.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,575 shares of company stock worth $149,878 in the last 90 days. Corporate insiders own 3.71% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings 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 during the period. Rhumbline Advisers increased its holdings in shares of Nektar Therapeutics by 3,377.0% in the second quarter. Rhumbline Advisers now owns 185,116 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 179,792 shares during the period. Victory Capital Management Inc. bought a new position in shares of Nektar Therapeutics in the second quarter worth $29,000. Candriam S.C.A. purchased a new stake in shares of Nektar Therapeutics in the second quarter worth $99,000. Finally, Samlyn Capital LLC purchased a new position in Nektar Therapeutics during the second quarter worth about $11,728,000. 75.88% of the stock is currently 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.