Nektar Therapeutics (NKTR) Now Covered by Seaport Global Securities

Research analysts at Seaport Global Securities started coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research report issued on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $120.00 price target on the biopharmaceutical company’s stock. Seaport Global Securities’ price target would indicate a potential upside of 39.19% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Mizuho set a $89.00 target price on shares of Nektar Therapeutics and gave the company a “buy” rating in a research report on Thursday, March 29th. Jefferies Group increased their target price on shares of Nektar Therapeutics from $2.12 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 target price (up from $50.00) on shares of Nektar Therapeutics in a research report on Wednesday, January 10th. BidaskClub cut shares of Nektar Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Cowen reiterated a “buy” rating and issued a $101.00 target price on shares of Nektar Therapeutics in a research report on Friday, March 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $75.46.

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Shares of NASDAQ NKTR opened at $86.21 on Friday. The company has a quick ratio of 5.63, a current ratio of 5.82 and a debt-to-equity ratio of 2.79. Nektar Therapeutics has a 52 week low of $17.33 and a 52 week high of $111.36.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.14. The business had revenue of $95.47 million during the quarter, compared to analysts’ expectations of $36.96 million. Nektar Therapeutics had a negative net margin of 31.42% and a negative return on equity of 156.85%. The company’s quarterly revenue was up 154.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.28) earnings per share. analysts anticipate that Nektar Therapeutics will post -1.43 EPS for the current year.

In related news, SVP Stephen K. Doberstein sold 160,000 shares of the company’s stock in a transaction dated Monday, April 9th. The shares were sold at an average price of $93.06, for a total value of $14,889,600.00. Following the completion of the sale, the senior vice president now owns 127,394 shares of the company’s stock, valued at $11,855,285.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen K. Doberstein sold 2,426 shares of the company’s stock in a transaction dated 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 directly 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. Insiders sold 588,473 shares of company stock valued at $54,878,447 in the last three months. 6.10% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in NKTR. Wells Fargo & Company MN boosted its stake in Nektar Therapeutics by 5.0% during the third quarter. Wells Fargo & Company MN now owns 215,561 shares of the biopharmaceutical company’s stock worth $5,174,000 after buying an additional 10,189 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Nektar Therapeutics by 7.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 703,282 shares of the biopharmaceutical company’s stock worth $16,879,000 after buying an additional 48,435 shares during the period. Allianz Asset Management GmbH boosted its stake in Nektar Therapeutics by 7.4% during the third quarter. Allianz Asset Management GmbH now owns 108,409 shares of the biopharmaceutical company’s stock worth $2,602,000 after buying an additional 7,507 shares during the period. California Public Employees Retirement System boosted its stake in Nektar Therapeutics by 2.3% during the third quarter. California Public Employees Retirement System now owns 195,200 shares of the biopharmaceutical company’s stock worth $4,685,000 after buying an additional 4,300 shares during the period. Finally, Neuberger Berman Group LLC purchased a new position in Nektar Therapeutics during the third quarter worth about $5,398,000. 96.32% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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