Nektar Therapeutics (NASDAQ:NKTR) Coverage Initiated by Analysts at B. Riley

B. Riley assumed coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $4.00 price target 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 research firms have also recently issued reports on NKTR. Piper Sandler began coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They set an “overweight” rating and a $7.00 price objective for the company. HC Wainwright assumed coverage on shares of Nektar Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $6.50 price target for the company. Finally, BTIG Research restated a “buy” rating and set a $4.00 price objective on shares of Nektar Therapeutics in a research report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.08.

Nektar Therapeutics Stock Down 9.6 %

Nektar Therapeutics stock opened at $1.03 on Wednesday. The stock has a market cap of $189.99 million, a PE ratio of -1.23 and a beta of 0.59. Nektar Therapeutics has a 12-month low of $0.48 and a 12-month high of $1.93. The business’s 50-day moving average price is $1.09 and its two-hundred day moving average price is $1.21.

Insider Activity at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 51,115 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $0.94, for a total transaction of $48,048.10. Following the completion of the transaction, the insider now directly owns 326,904 shares in the company, valued at $307,289.76. This trade represents a 13.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew Wilson sold 33,402 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $0.90, for a total value of $30,061.80. Following the completion of the sale, the insider now owns 351,892 shares in the company, valued at $316,702.80. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,575 shares of company stock worth $149,878 over the last three months. Company insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

A number of hedge funds have recently bought and sold shares of NKTR. Samlyn Capital LLC acquired a new stake in Nektar Therapeutics during the 2nd quarter worth about $11,728,000. Eventide Asset Management LLC boosted its position in shares of Nektar Therapeutics by 24.8% during the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock valued at $12,220,000 after purchasing an additional 1,870,904 shares in the last quarter. Millennium Management LLC grew its stake in Nektar Therapeutics by 56.1% during the second quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock worth $5,778,000 after purchasing an additional 1,674,924 shares during the period. Nantahala Capital Management LLC increased its holdings in Nektar Therapeutics by 66.0% in the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock worth $5,096,000 after purchasing an additional 1,634,046 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in Nektar Therapeutics in the second quarter valued at approximately $1,037,000. 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.