Nektar Therapeutics (NKTR) Shares Gap Down to $93.87

Shares of Nektar Therapeutics (NASDAQ:NKTR) gapped down before the market opened on Friday . The stock had previously closed at $93.74, but opened at $93.87. Nektar Therapeutics shares last traded at $93.87, with a volume of 4924815 shares.

Several analysts have recently weighed in on NKTR shares. Canaccord Genuity restated a “buy” rating and set a $80.00 price objective (up previously from $50.00) on shares of Nektar Therapeutics in a research report on Wednesday, January 10th. Mizuho set a $89.00 price objective on shares of Nektar Therapeutics and gave the stock a “buy” rating in a research report on Thursday, March 29th. Jefferies Group boosted their price objective on shares of Nektar Therapeutics from $2.12 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Cowen restated a “buy” rating and set a $101.00 price objective on shares of Nektar Therapeutics in a research report on Friday, March 2nd. Finally, Zacks Investment Research downgraded shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Nektar Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $63.75.

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The company has a debt-to-equity ratio of 2.79, a current ratio of 5.82 and a quick ratio of 5.63.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.14. Nektar Therapeutics had a negative net margin of 31.42% and a negative return on equity of 156.85%. The firm had revenue of $95.47 million during the quarter, compared to the consensus estimate of $36.96 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. Nektar Therapeutics’s revenue for the quarter was up 154.9% on a year-over-year basis. research analysts forecast that Nektar Therapeutics will post -1.33 earnings per share for the current fiscal year.

In related news, CEO Howard W. Robin sold 83,333 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $75.82, for a total value of $6,318,308.06. Following the completion of the sale, the chief executive officer now owns 333,268 shares in the company, valued at approximately $25,268,379.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Stephen K. Doberstein sold 2,426 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $82.94, for a total transaction of $201,212.44. Following the completion of the sale, the senior vice president now owns 67,394 shares of the company’s stock, valued at approximately $5,589,658.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 369,592 shares of company stock valued at $34,241,981. 6.10% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in NKTR. California Public Employees Retirement System increased its stake in Nektar Therapeutics by 2.3% in the 3rd quarter. California Public Employees Retirement System now owns 195,200 shares of the biopharmaceutical company’s stock valued at $4,685,000 after buying an additional 4,300 shares during the period. Advisor Partners LLC acquired a new position in Nektar Therapeutics in the 4th quarter valued at $393,000. Carillon Tower Advisers Inc. acquired a new position in Nektar Therapeutics in the 4th quarter valued at $43,024,000. Aperio Group LLC increased its stake in Nektar Therapeutics by 14.6% in the 4th quarter. Aperio Group LLC now owns 49,830 shares of the biopharmaceutical company’s stock valued at $2,976,000 after buying an additional 6,345 shares during the period. Finally, Teachers Advisors LLC increased its stake in Nektar Therapeutics by 38.0% in the 4th quarter. Teachers Advisors LLC now owns 930,424 shares of the biopharmaceutical company’s stock valued at $55,565,000 after buying an additional 256,078 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

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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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