Nektar Therapeutics (NKTR) Gets a Buy Rating from Cowen & Co.

By Austin Angelo

Cowen & Co. analyst Chris Shibutani maintained a Buy rating on Nektar Therapeutics (NKTRResearch Report) today and set a price target of $30.00. The company’s shares closed last Monday at $23.52.

According to TipRanks.com, Shibutani is a 4-star analyst with an average return of 7.3% and a 43.7% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Pieris Pharmaceuticals, Mirati Therapeutics, and Puma Biotechnology.

The word on The Street in general, suggests a Hold analyst consensus rating for Nektar Therapeutics with a $29.60 average price target, a 30.6% upside from current levels. In a report issued on February 3, Mizuho Securities also upgraded the stock to Buy with a $35.00 price target.

See today’s analyst top recommended stocks >>

Based on Nektar Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $98.81 million. In comparison, last year the company had a GAAP net loss of $98.21 million.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NKTR in relation to earlier this year. Most recently, in December 2019, Roy Whitfield, a Director at NKTR bought 10,000 shares for a total of $92,400.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Nektar Therapeutics is a biopharmaceutical company, which engages in applying technology platforms to develop novel drug candidates. The company focuses on the therapies for cancer, autoimmune disease, and chronic pain. It operates through the United States and Europe geographical segments.