Arizona State Retirement System increased its stake in Nektar Therapeutics (NASDAQ:NKTR) by 20.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,036 shares of the biopharmaceutical company’s stock after purchasing an additional 19,211 shares during the quarter. Arizona State Retirement System’s holdings in Nektar Therapeutics were worth $6,769,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Nektar Therapeutics by 50.2% during the first quarter. Dimensional Fund Advisors LP now owns 208,021 shares of the biopharmaceutical company’s stock valued at $22,104,000 after acquiring an additional 69,557 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Nektar Therapeutics during the first quarter valued at approximately $359,000. Royal Bank of Canada increased its position in shares of Nektar Therapeutics by 4,106.2% during the first quarter. Royal Bank of Canada now owns 99,728 shares of the biopharmaceutical company’s stock valued at $10,597,000 after acquiring an additional 97,357 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Nektar Therapeutics by 12.1% during the first quarter. Allianz Asset Management GmbH now owns 103,684 shares of the biopharmaceutical company’s stock valued at $11,018,000 after acquiring an additional 11,213 shares in the last quarter. Finally, Suntrust Banks Inc. bought a new stake in shares of Nektar Therapeutics during the first quarter valued at approximately $264,000. 92.72% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Jeffrey Robert Ajer sold 6,750 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $56.76, for a total transaction of $383,130.00. Following the completion of the sale, the director now owns 15,750 shares of the company’s stock, valued at approximately $893,970. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director R Scott Greer sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $67.39, for a total transaction of $673,900.00. Following the sale, the director now directly owns 140,333 shares of the company’s stock, valued at approximately $9,457,040.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,000 shares of company stock valued at $5,825,680. Insiders own 4.31% of the company’s stock.
NASDAQ:NKTR opened at $40.00 on Tuesday. The company has a quick ratio of 19.55, a current ratio of 19.67 and a debt-to-equity ratio of 0.13. Nektar Therapeutics has a 12 month low of $23.85 and a 12 month high of $111.36. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of -72.73 and a beta of 2.91.
Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Wednesday, August 8th. The biopharmaceutical company reported $5.33 EPS for the quarter, topping analysts’ consensus estimates of $5.22 by $0.11. Nektar Therapeutics had a net margin of 65.69% and a return on equity of 174.70%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted ($0.39) EPS. The firm’s revenue was up 3043.7% on a year-over-year basis. On average, sell-side analysts forecast that Nektar Therapeutics will post 3.57 earnings per share for the current year.
Several brokerages recently weighed in on NKTR. HC Wainwright reissued a “hold” rating and set a $54.00 price target on shares of Nektar Therapeutics in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Monday, July 16th. TheStreet raised shares of Nektar Therapeutics from a “d” rating to a “c” rating in a research report on Wednesday, August 8th. Mizuho reaffirmed a “buy” rating and issued a $103.00 target price on shares of Nektar Therapeutics in a research report on Thursday, August 9th. Finally, BidaskClub raised shares of Nektar Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 14th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $82.27.
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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 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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