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.
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.
ILLEGAL ACTIVITY NOTICE: “Nektar Therapeutics (NKTR) Now Covered by Seaport Global Securities” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/22/nektar-therapeutics-nktr-now-covered-by-seaport-global-securities.html.
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.
Receive News & Ratings for Nektar Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nektar Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.