Piper Jaffray started coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $125.00 target price on the biopharmaceutical company’s stock.
NKTR has been the topic of several other reports. Zacks Investment Research raised shares of Nektar Therapeutics from a sell rating to a hold rating in a research note on Wednesday, February 21st. BidaskClub downgraded shares of Nektar Therapeutics from a strong-buy rating to a buy rating in a research note on Thursday, February 8th. Mizuho lifted their target price on shares of Nektar Therapeutics from $89.00 to $103.00 and gave the stock a buy rating in a research note on Friday, April 6th. Jefferies Group lifted their target price on shares of Nektar Therapeutics to $103.00 and gave the stock a buy rating in a research note on Friday, March 2nd. Finally, HC Wainwright reaffirmed a buy rating and issued a $125.00 target price on shares of Nektar Therapeutics in a research note on Monday, April 2nd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Nektar Therapeutics presently has an average rating of Buy and a consensus price target of $71.75.
NKTR stock opened at $93.47 on Friday. The company has a market cap of $16,172.75, a price-to-earnings ratio of -169.95 and a beta of 1.73. Nektar Therapeutics has a one year low of $17.33 and a one year high of $111.36. The company has a current ratio of 5.82, a quick ratio of 5.63 and a debt-to-equity ratio of 2.79.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $36.96 million. During the same period last year, the firm posted ($0.28) earnings per share. The business’s revenue was up 154.9% compared to the same quarter last year. analysts anticipate that Nektar Therapeutics will post -1.33 EPS for the current year.
In other Nektar Therapeutics news, CAO Jillian B. Thomsen sold 2,545 shares of the business’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 $211,082.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stephen K. Doberstein sold 160,000 shares of the business’s stock in a transaction on Monday, April 9th. The shares were sold at an average price of $93.06, for a total transaction of $14,889,600.00. Following the transaction, the senior vice president now directly owns 127,394 shares in the company, valued at $11,855,285.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 574,592 shares of company stock worth $53,470,081. Insiders own 5.44% of the company’s stock.
A number of institutional investors have recently modified their holdings of NKTR. Janus Henderson Group PLC increased its position in Nektar Therapeutics by 87.8% during the 3rd quarter. Janus Henderson Group PLC now owns 3,329,281 shares of the biopharmaceutical company’s stock valued at $79,903,000 after purchasing an additional 1,556,352 shares during the period. Eagle Asset Management Inc. purchased a new position in Nektar Therapeutics during the 4th quarter valued at $61,577,000. Rubric Capital Management LP purchased a new position in Nektar Therapeutics during the 3rd quarter valued at $23,924,000. Carillon Tower Advisers Inc. purchased a new position in Nektar Therapeutics during the 4th quarter valued at $43,024,000. Finally, BlackRock Inc. increased its position in Nektar Therapeutics by 2.1% during the 4th quarter. BlackRock Inc. now owns 21,431,388 shares of the biopharmaceutical company’s stock valued at $1,279,883,000 after purchasing an additional 431,269 shares during the period. 96.32% of the stock is currently owned by institutional investors and hedge funds.
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About Nektar Therapeutics
Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain based on its PEGylation and polymer conjugate technology platforms in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.
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