Nektar Therapeutics (NASDAQ:NKTR) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
A number of other equities research analysts also recently issued reports on NKTR. Piper Jaffray assumed coverage on shares of Nektar Therapeutics in a research note on Friday, April 13th. They issued an “overweight” rating and a $125.00 price target on the stock. HC Wainwright set a $125.00 price target on shares of Nektar Therapeutics and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity reissued a “buy” rating and issued a $80.00 price target (up from $50.00) on shares of Nektar Therapeutics in a research note on Wednesday, January 10th. Mizuho boosted their price target on shares of Nektar Therapeutics from $89.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, April 6th. Finally, Jefferies Group boosted their price target on shares of Nektar Therapeutics to $103.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Nektar Therapeutics presently has an average rating of “Buy” and an average price target of $71.75.
NKTR opened at $90.15 on Wednesday. The stock has a market cap of $14,891.80, a P/E ratio of -163.91 and a beta of 1.74. Nektar Therapeutics has a twelve month low of $17.33 and a twelve month 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 issued its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.14. The company had revenue of $95.47 million for the quarter, compared to the consensus estimate of $36.96 million. Nektar Therapeutics had a negative net margin of 31.42% and a negative return on equity of 156.85%. Nektar Therapeutics’s quarterly revenue was up 154.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.28) earnings per share. equities analysts predict that Nektar Therapeutics will post -1.43 EPS for the current year.
In related news, CAO Jillian B. Thomsen sold 2,545 shares of Nektar Therapeutics stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $82.94, for a total value of $211,082.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nicholson sold 220,144 shares of Nektar Therapeutics stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $99.27, for a total transaction of $21,853,694.88. Following the completion of the transaction, the chief operating officer now owns 267,657 shares of the company’s stock, valued at approximately $26,570,310.39. The disclosure for this sale can be found here. Insiders sold 588,473 shares of company stock valued at $54,878,447 in the last 90 days. Company insiders own 6.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Nektar Therapeutics by 2.1% in the fourth 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 in the last quarter. First Trust Advisors LP grew its holdings in Nektar Therapeutics by 3.0% during the 4th quarter. First Trust Advisors LP now owns 1,705,632 shares of the biopharmaceutical company’s stock worth $101,860,000 after acquiring an additional 49,422 shares in the last quarter. Geode Capital Management LLC grew its holdings in Nektar Therapeutics by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,445,971 shares of the biopharmaceutical company’s stock worth $86,353,000 after acquiring an additional 13,958 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Nektar Therapeutics during the 4th quarter worth approximately $61,577,000. Finally, Teachers Advisors LLC grew its holdings in Nektar Therapeutics by 38.0% during the 4th quarter. Teachers Advisors LLC now owns 930,424 shares of the biopharmaceutical company’s stock worth $55,565,000 after acquiring an additional 256,078 shares in the last quarter. Hedge funds and other institutional investors own 96.32% of the company’s stock.
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Nektar Therapeutics Company Profile
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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