Nektar Therapeutics (NASDAQ:NKTR) had its target price upped by Canaccord Genuity Group Inc. from $35.00 to $50.00 in a research report sent to investors on Wednesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other research firms have also recently commented on NKTR. Roth Capital set a $45.00 target price on Nektar Therapeutics and gave the company a buy rating in a research note on Monday, November 13th. Mizuho upped their target price on Nektar Therapeutics from $30.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, November 14th. J P Morgan Chase & Co reissued a buy rating and issued a $44.00 price objective on shares of Nektar Therapeutics in a research note on Monday, November 13th. Canaccord Genuity assumed coverage on Nektar Therapeutics in a research note on Thursday, November 9th. They issued a buy rating and a $35.00 price objective on the stock. Finally, Jefferies Group LLC reissued a buy rating and issued a $35.00 price objective on shares of Nektar Therapeutics in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $35.58.
Nektar Therapeutics (NASDAQ NKTR) opened at $44.99 on Wednesday. Nektar Therapeutics has a 52 week low of $11.41 and a 52 week high of $46.98. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.99 and a current ratio of 4.14.
Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. The firm had revenue of $152.90 million for the quarter, compared to analysts’ expectations of $126.50 million. Nektar Therapeutics had a negative return on equity of 190.68% and a negative net margin of 42.08%. The company’s quarterly revenue was up 321.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. equities analysts predict that Nektar Therapeutics will post -0.78 earnings per share for the current year.
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In other news, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $21.86, for a total transaction of $87,440.00. Following the completion of the sale, the director now owns 40,500 shares in the company, valued at approximately $885,330. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Howard W. Robin sold 83,333 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $21.54, for a total value of $1,794,992.82. Following the sale, the chief executive officer now owns 235,837 shares of the company’s stock, valued at approximately $5,079,928.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 941,427 shares of company stock valued at $24,663,626. Company insiders own 6.10% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Arizona State Retirement System raised its stake in Nektar Therapeutics by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 80,945 shares of the biopharmaceutical company’s stock worth $1,582,000 after acquiring an additional 800 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in Nektar Therapeutics in the 2nd quarter worth $2,248,000. Bank of New York Mellon Corp raised its stake in Nektar Therapeutics by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,138,632 shares of the biopharmaceutical company’s stock worth $41,812,000 after acquiring an additional 12,730 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Nektar Therapeutics by 9.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 952,443 shares of the biopharmaceutical company’s stock worth $18,620,000 after acquiring an additional 79,510 shares during the last quarter. Finally, Piedmont Investment Advisors LLC raised its stake in Nektar Therapeutics by 264.6% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 33,545 shares of the biopharmaceutical company’s stock worth $656,000 after acquiring an additional 24,344 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.
About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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