Nektar Therapeutics (NKTR) Downgraded by TheStreet

TheStreet lowered shares of Nektar Therapeutics (NASDAQ:NKTR) from a c rating to a d+ rating in a report released on Wednesday.

Other analysts have also issued reports about the stock. Piper Jaffray Companies set a $125.00 price objective on shares of Nektar Therapeutics and gave the stock a buy rating in a research note on Wednesday, July 25th. Zacks Investment Research raised shares of Nektar Therapeutics from a hold rating to a buy rating and set a $54.00 price objective for the company in a research note on Monday, July 16th. Cowen reaffirmed a buy rating and issued a $86.00 price objective on shares of Nektar Therapeutics in a research note on Thursday, August 9th. Mizuho reaffirmed a buy rating and issued a $103.00 price objective on shares of Nektar Therapeutics in a research note on Thursday, August 9th. Finally, BidaskClub raised shares of Nektar Therapeutics from a hold rating to a buy rating in a research report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $79.55.

NASDAQ:NKTR opened at $34.02 on Wednesday. Nektar Therapeutics has a 1-year low of $31.37 and a 1-year high of $111.36. The stock has a market capitalization of $6.22 billion, a P/E ratio of -61.85 and a beta of 2.91. 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 (NASDAQ:NKTR) last released its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.07. Nektar Therapeutics had a net margin of 65.69% and a return on equity of 174.70%. The company had revenue of $27.80 million during the quarter, compared to analyst estimates of $26.08 million. During the same period in the prior year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was down 81.8% compared to the same quarter last year. Analysts predict that Nektar Therapeutics will post 3.57 earnings per share for the current fiscal year.

In other Nektar Therapeutics news, Director R Scott Greer sold 10,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $67.39, for a total transaction of $673,900.00. Following the completion of the sale, the director now directly owns 140,333 shares of the company’s stock, valued at $9,457,040.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dennis L. Winger sold 34,250 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $60.60, for a total transaction of $2,075,550.00. Following the sale, the director now directly owns 59,875 shares of the company’s stock, valued at $3,628,425. The disclosure for this sale can be found here. Over 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.

Several hedge funds have recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Nektar Therapeutics during the second quarter valued at about $137,000. Flagship Harbor Advisors LLC acquired a new position in shares of Nektar Therapeutics during the second quarter valued at about $142,000. Sterling Investment Advisors Ltd. acquired a new position in shares of Nektar Therapeutics during the third quarter valued at about $183,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Nektar Therapeutics by 68.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,290 shares of the biopharmaceutical company’s stock valued at $209,000 after acquiring an additional 1,747 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new position in shares of Nektar Therapeutics during the third quarter valued at about $213,000. 92.72% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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