Nektar Therapeutics (NASDAQ:NKTR) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other research firms have also issued reports on NKTR. Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Nektar Therapeutics in a report on Friday, July 21st. Zacks Investment Research raised shares of Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Nektar Therapeutics in a report on Tuesday, July 18th. Aegis upped their target price on shares of Nektar Therapeutics from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Finally, ValuEngine raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Nektar Therapeutics currently has an average rating of “Buy” and an average price target of $26.00.
Nektar Therapeutics (NASDAQ:NKTR) traded down 0.05% during trading on Friday, reaching $20.03. 661,961 shares of the company’s stock traded hands. Nektar Therapeutics has a one year low of $11.41 and a one year high of $24.88. The firm’s market capitalization is $3.11 billion. The company has a 50-day moving average price of $20.36 and a 200 day moving average price of $18.04.
Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.02. Nektar Therapeutics had a negative return on equity of 3,072.86% and a negative net margin of 150.74%. The business had revenue of $24.73 million for the quarter, compared to analysts’ expectations of $29.43 million. During the same period in the previous year, the company earned ($0.14) EPS. Nektar Therapeutics’s quarterly revenue was down 58.0% compared to the same quarter last year. On average, analysts anticipate that Nektar Therapeutics will post ($1.17) earnings per share for the current fiscal year.
In related news, Director Robert Chess sold 5,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $19.79, for a total value of $98,950.00. Following the completion of the sale, the director now owns 276,623 shares of the company’s stock, valued at $5,474,369.17. 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 1,701 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $19.55, for a total transaction of $33,254.55. Following the completion of the sale, the senior vice president now directly owns 32,803 shares of the company’s stock, valued at approximately $641,298.65. The disclosure for this sale can be found here. Insiders sold 159,803 shares of company stock valued at $3,328,247 in the last three months. 6.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Flinton Capital Management LLC boosted its position in Nektar Therapeutics by 11.1% in the first quarter. Flinton Capital Management LLC now owns 4,480 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 448 shares during the last quarter. LS Investment Advisors LLC boosted its position in Nektar Therapeutics by 8.8% in the second quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 535 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in Nektar Therapeutics by 11.1% in the first quarter. Meadow Creek Investment Management LLC now owns 6,160 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 616 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in Nektar Therapeutics by 11.1% in the first quarter. Glen Harbor Capital Management LLC now owns 7,840 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 784 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Nektar Therapeutics by 21.8% in the first quarter. Bank of Montreal Can now owns 8,195 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 1,464 shares during the last quarter. 93.92% of the stock is currently owned by institutional investors.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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