Cowen restated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research note published on Thursday, AnalystRatings.com reports.
Other analysts have also recently issued research reports about the company. Oppenheimer started coverage on Nektar Therapeutics in a research report on Thursday, October 24th. They issued a market perform rating and a $18.00 price objective for the company. William Blair reissued a buy rating on shares of Nektar Therapeutics in a research report on Thursday, September 26th. ValuEngine raised Nektar Therapeutics from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Goldman Sachs Group cut Nektar Therapeutics from a buy rating to a sell rating and lowered their price objective for the stock from $54.00 to $16.00 in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut Nektar Therapeutics from an overweight rating to a neutral rating and lowered their price objective for the stock from $62.00 to $33.00 in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Nektar Therapeutics has a consensus rating of Hold and an average target price of $34.57.
NASDAQ:NKTR traded up $1.34 during midday trading on Thursday, hitting $20.04. The stock had a trading volume of 3,963,600 shares, compared to its average volume of 2,359,833. The company has a quick ratio of 13.97, a current ratio of 14.09 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 5.30 and a beta of 2.62. Nektar Therapeutics has a one year low of $15.64 and a one year high of $47.11. The stock has a 50-day moving average of $17.90 and a 200 day moving average of $26.15.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.17. The firm had revenue of $29.22 million during the quarter, compared to analysts’ expectations of $26.42 million. Nektar Therapeutics had a negative return on equity of 25.25% and a negative net margin of 354.90%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.56) EPS. On average, sell-side analysts anticipate that Nektar Therapeutics will post -2.85 earnings per share for the current fiscal year.
In related news, CEO Howard W. Robin sold 33,334 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.48, for a total value of $582,678.32. Following the completion of the transaction, the chief executive officer now owns 346,108 shares in the company, valued at approximately $6,049,967.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gil M. Labrucherie sold 25,000 shares of Nektar Therapeutics stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $15.83, for a total value of $395,750.00. The disclosure for this sale can be found here. Insiders sold a total of 169,328 shares of company stock valued at $3,587,957 in the last 90 days. 4.02% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Investment Advisory Services LLC raised its stake in shares of Nektar Therapeutics by 1,566.7% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 940 shares during the last quarter. Kavar Capital Partners LLC purchased a new position in shares of Nektar Therapeutics during the 2nd quarter valued at about $44,000. Gemmer Asset Management LLC raised its stake in shares of Nektar Therapeutics by 476.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,390 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 1,149 shares during the last quarter. Coastal Investment Advisors Inc. raised its stake in shares of Nektar Therapeutics by 334.3% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,937 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 1,491 shares during the last quarter. Finally, CSat Investment Advisory L.P. raised its stake in shares of Nektar Therapeutics by 54.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 2,071 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 729 shares during the last quarter. Institutional investors and hedge funds own 93.37% of the company’s stock.
Nektar Therapeutics Company Profile
Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.
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