Jefferies Group Raises Nektar Therapeutics (NKTR) Price Target to $88.00

Nektar Therapeutics (NASDAQ:NKTR) had its price objective hoisted by Jefferies Group from $2.12 to $88.00 in a report issued on Tuesday morning, The Fly reports. Jefferies Group currently has a buy rating on the biopharmaceutical company’s stock. Jefferies Group also issued estimates for Nektar Therapeutics’ Q4 2017 earnings at ($0.43) EPS, FY2017 earnings at ($0.84) EPS, FY2018 earnings at ($0.82) EPS, FY2019 earnings at ($1.01) EPS, FY2020 earnings at ($0.77) EPS, FY2021 earnings at ($0.67) EPS and FY2022 earnings at ($0.67) EPS.

NKTR has been the topic of a number of other reports. Canaccord Genuity Group raised their price target on shares of Nektar Therapeutics from $35.00 to $50.00 and gave the company a buy rating in a report on Wednesday, November 15th. Cowen assumed coverage on shares of Nektar Therapeutics in a report on Tuesday, November 7th. They issued an outperform rating on the stock. Canaccord Genuity assumed coverage on shares of Nektar Therapeutics in a report on Thursday, November 9th. They issued a buy rating and a $35.00 price target on the stock. Roth Capital set a $45.00 price target on shares of Nektar Therapeutics and gave the company a buy rating in a report on Monday, November 13th. Finally, Zacks Investment Research cut shares of Nektar Therapeutics from a hold rating to a sell rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $42.50.

Shares of Nektar Therapeutics (NASDAQ:NKTR) opened at $71.59 on Tuesday. Nektar Therapeutics has a 1-year low of $11.41 and a 1-year high of $75.33. The firm has a market cap of $11,500.00, a PE ratio of -100.83 and a beta of 1.81. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.14 and a quick ratio of 3.99.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The business had revenue of $152.90 million for the quarter, compared to analysts’ expectations of $126.50 million. During the same period last year, the business earned ($0.32) EPS. The company’s revenue was up 321.2% compared to the same quarter last year. sell-side analysts predict that Nektar Therapeutics will post -0.76 earnings per share for the current fiscal year.

In related news, CEO Howard W. Robin sold 83,333 shares of Nektar Therapeutics stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $55.69, for a total value of $4,640,814.77. Following the completion of the sale, the chief executive officer now directly owns 272,768 shares in the company, valued at approximately $15,190,449.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher A. Kuebler sold 30,000 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $58.66, for a total transaction of $1,759,800.00. Following the completion of the sale, the director now owns 70,500 shares of the company’s stock, valued at $4,135,530. The disclosure for this sale can be found here. Insiders sold a total of 614,017 shares of company stock valued at $20,587,527 over the last quarter. 6.10% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of NKTR. Schwab Charles Investment Management Inc. raised its position in Nektar Therapeutics by 3.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 654,847 shares of the biopharmaceutical company’s stock worth $12,803,000 after buying an additional 21,250 shares during the last quarter. Prudential Financial Inc. raised its position in Nektar Therapeutics by 1.1% during the 2nd quarter. Prudential Financial Inc. now owns 265,153 shares of the biopharmaceutical company’s stock worth $5,184,000 after buying an additional 2,910 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $110,000 after buying an additional 692 shares during the last quarter. Swiss National Bank raised its position in Nektar Therapeutics by 1.5% during the 2nd quarter. Swiss National Bank now owns 255,800 shares of the biopharmaceutical company’s stock worth $5,001,000 after buying an additional 3,900 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Nektar Therapeutics by 10.6% during the 2nd quarter. Alliancebernstein L.P. now owns 231,237 shares of the biopharmaceutical company’s stock worth $4,521,000 after buying an additional 22,100 shares during the last quarter. 96.01% of the stock is 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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