Nektar Therapeutics (NASDAQ:NKTR) announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by $0.04, Briefing.com reports. The firm had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $33.64 million. Nektar Therapeutics had a negative net margin of 157.14% and a negative return on equity of 1,223.34%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.36) EPS.
Shares of Nektar Therapeutics (NKTR) traded down 2.06% on Friday, reaching $18.04. The company’s stock had a trading volume of 1,075,725 shares. The company’s market cap is $2.82 billion. Nektar Therapeutics has a 52-week low of $11.41 and a 52-week high of $24.88. The company has a 50 day moving average price of $20.53 and a 200 day moving average price of $18.52.
A number of analysts have issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Nektar Therapeutics in a research note on Friday. Evercore ISI initiated coverage on Nektar Therapeutics in a report on Thursday. They issued an “in-line” rating and a $20.00 price target for the company. BidaskClub upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research lowered Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Roth Capital set a $33.00 price target on Nektar Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $26.10.
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In other Nektar Therapeutics news, SVP Ivan P. Gergel sold 8,389 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $21.04, for a total transaction of $176,504.56. Following the sale, the senior vice president now owns 51,961 shares of the company’s stock, valued at $1,093,259.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ivan P. Gergel sold 54,920 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $21.10, for a total transaction of $1,158,812.00. Following the sale, the senior vice president now directly owns 98,492 shares in the company, valued at approximately $2,078,181.20. The disclosure for this sale can be found here. Insiders have sold 138,389 shares of company stock worth $2,908,403 in the last ninety days. Insiders own 6.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Nektar Therapeutics by 180,432.9% in the first quarter. BlackRock Inc. now owns 20,035,546 shares of the biopharmaceutical company’s stock worth $470,234,000 after buying an additional 20,024,448 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Nektar Therapeutics during the second quarter worth $34,661,000. PointState Capital LP raised its stake in Nektar Therapeutics by 281.7% in the second quarter. PointState Capital LP now owns 1,731,000 shares of the biopharmaceutical company’s stock worth $33,841,000 after buying an additional 1,277,500 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Nektar Therapeutics during the first quarter worth $23,580,000. Finally, Marshall Wace North America L.P. acquired a new stake in Nektar Therapeutics during the first quarter worth $23,580,000. 93.02% of the stock is currently owned by institutional investors.
About Nektar Therapeutics
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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