Franklin Resources Inc. Increases Holdings in Nektar Therapeutics (NKTR)

Franklin Resources Inc. grew its position in Nektar Therapeutics (NASDAQ:NKTR) by 16.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,112,700 shares of the biopharmaceutical company’s stock after acquiring an additional 153,400 shares during the quarter. Franklin Resources Inc.’s holdings in Nektar Therapeutics were worth $67,830,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Macquarie Group Ltd. lifted its position in shares of Nektar Therapeutics by 966.0% in the 2nd quarter. Macquarie Group Ltd. now owns 165,000 shares of the biopharmaceutical company’s stock worth $8,057,000 after acquiring an additional 149,522 shares during the period. Riverhead Capital Management LLC lifted its position in shares of Nektar Therapeutics by 241.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,134 shares of the biopharmaceutical company’s stock worth $348,000 after acquiring an additional 5,042 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nektar Therapeutics by 224.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,025 shares of the biopharmaceutical company’s stock worth $1,710,000 after acquiring an additional 24,243 shares during the period. Baird Financial Group Inc. lifted its position in shares of Nektar Therapeutics by 58.9% in the 2nd quarter. Baird Financial Group Inc. now owns 15,306 shares of the biopharmaceutical company’s stock worth $747,000 after acquiring an additional 5,671 shares during the period. Finally, Tibra Equities Europe Ltd bought a new stake in shares of Nektar Therapeutics in the 2nd quarter worth approximately $8,457,000. Institutional investors own 91.15% of the company’s stock.

In related news, SVP Stephen K. Doberstein sold 4,524 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $38.25, for a total transaction of $173,043.00. Following the completion of the sale, the senior vice president now directly owns 78,734 shares of the company’s stock, valued at approximately $3,011,575.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Robert Ajer sold 6,750 shares of the firm’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $56.76, for a total value of $383,130.00. Following the sale, the director now directly owns 15,750 shares of the company’s stock, valued at $893,970. The disclosure for this sale can be found here. Insiders have sold a total of 43,113 shares of company stock valued at $1,774,015 in the last 90 days. 4.31% of the stock is owned by corporate insiders.

NKTR has been the subject of a number of research reports. HC Wainwright set a $54.00 price objective on Nektar Therapeutics and gave the stock a “hold” rating in a research report on Monday, October 22nd. BidaskClub downgraded Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Mizuho reiterated a “buy” rating and issued a $103.00 price objective on shares of Nektar Therapeutics in a research report on Thursday, August 9th. Zacks Investment Research downgraded Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, ValuEngine downgraded Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Nektar Therapeutics has an average rating of “Buy” and an average target price of $84.56.

Nektar Therapeutics stock opened at $38.04 on Friday. The company has a quick ratio of 13.80, a current ratio of 13.93 and a debt-to-equity ratio of 0.14. The company has a market cap of $6.58 billion, a P/E ratio of 9.43 and a beta of 2.81. Nektar Therapeutics has a one year low of $33.50 and a one year high of $111.36.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.07. The business had revenue of $27.80 million during the quarter, compared to the consensus estimate of $26.08 million. Nektar Therapeutics had a return on equity of 79.66% and a net margin of 59.71%. Nektar Therapeutics’s revenue was down 81.8% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. On average, equities research analysts forecast that Nektar Therapeutics will post 3.66 EPS for the current fiscal year.

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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 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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Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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