Nektar Therapeutics (NASDAQ:NKTR) had its price target raised by Canaccord Genuity Group from $35.00 to $50.00 in a research note issued to investors on Wednesday, November 15th. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Several other research analysts also recently commented on NKTR. William Blair reissued an outperform rating on shares of Nektar Therapeutics in a report on Tuesday, July 18th. Jefferies Group reaffirmed a buy rating and issued a $23.00 price objective on shares of Nektar Therapeutics in a report on Friday, July 21st. Zacks Investment Research raised Nektar Therapeutics from a hold rating to a buy rating and set a $24.00 price target for the company in a report on Tuesday, August 1st. BidaskClub cut Nektar Therapeutics from a buy rating to a hold rating in a report on Friday, August 4th. Finally, HC Wainwright began coverage on Nektar Therapeutics in a research report on Monday, August 7th. They set a buy rating and a $31.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $35.58.
Nektar Therapeutics (NKTR) traded down $2.61 during trading hours on Wednesday, reaching $50.73. The company’s stock had a trading volume of 2,679,287 shares, compared to its average volume of 1,685,370. The company has a current ratio of 4.14, a quick ratio of 3.99 and a debt-to-equity ratio of 2.91. Nektar Therapeutics has a 1 year low of $11.41 and a 1 year high of $55.42.
Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.16. Nektar Therapeutics had a negative return on equity of 190.68% and a negative net margin of 42.08%. The company had revenue of $152.90 million during the quarter, compared to the consensus estimate of $126.50 million. During the same period in the previous year, the company posted ($0.32) EPS. The firm’s revenue for the quarter was up 321.2% compared to the same quarter last year. research analysts anticipate that Nektar Therapeutics will post -0.75 EPS for the current year.
In other Nektar Therapeutics news, SVP Maninder Hora sold 5,117 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $25.07, for a total transaction of $128,283.19. Following the sale, the senior vice president now owns 52,016 shares in the company, valued at $1,304,041.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nicholson sold 15,910 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $37.78, for a total value of $601,079.80. Following the transaction, the chief operating officer now directly owns 249,066 shares in the company, valued at $9,409,713.48. The disclosure for this sale can be found here. Insiders sold 941,427 shares of company stock valued at $24,663,626 over the last ninety days. Corporate insiders own 5.44% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System grew its stake in shares of Nektar Therapeutics by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 63,200 shares of the biopharmaceutical company’s stock worth $1,236,000 after purchasing an additional 500 shares during the last quarter. LS Investment Advisors LLC boosted its position in Nektar Therapeutics by 8.8% during the 2nd quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 535 shares in the last quarter. World Asset Management Inc boosted its position in Nektar Therapeutics by 5.6% during the 2nd quarter. World Asset Management Inc now owns 10,167 shares of the biopharmaceutical company’s stock valued at $199,000 after acquiring an additional 539 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nektar Therapeutics by 14.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock valued at $110,000 after acquiring an additional 692 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Nektar Therapeutics by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 80,945 shares of the biopharmaceutical company’s stock valued at $1,582,000 after acquiring an additional 800 shares in the last quarter. 96.04% of the stock is currently owned by institutional investors.
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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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