Nektar Therapeutics (NASDAQ:NKTR) had its price objective dropped by stock analysts at Jefferies Financial Group from $103.00 to $73.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 114.58% from the company’s previous close.
NKTR has been the subject of several other research reports. ValuEngine raised shares of Nektar Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Zacks Investment Research lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, October 22nd. Piper Jaffray Companies set a $125.00 price target on shares of Nektar Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, July 25th. HC Wainwright set a $54.00 price target on shares of Nektar Therapeutics and gave the stock a “hold” rating in a research report on Monday, October 22nd. Finally, BidaskClub lowered shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $79.55.
NKTR stock traded down $1.29 on Thursday, hitting $34.02. 2,896,498 shares of the company were exchanged, compared to its average volume of 2,502,319. Nektar Therapeutics has a twelve month low of $31.37 and a twelve month high of $111.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 19.55 and a current ratio of 19.67. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -61.85 and a beta of 2.91.
In other Nektar Therapeutics news, Director Dennis L. Winger sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $59.62, for a total transaction of $894,300.00. Following the completion of the sale, the director now directly owns 57,750 shares in the company, valued at $3,443,055. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dennis L. Winger sold 34,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $60.60, for a total transaction of $2,075,550.00. Following the sale, the director now 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 quarter, insiders have sold 96,000 shares of company stock valued at $5,825,680. 4.31% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKTR. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Nektar Therapeutics during the second quarter worth approximately $137,000. Flagship Harbor Advisors LLC purchased a new stake in Nektar Therapeutics during the second quarter worth approximately $142,000. Sterling Investment Advisors Ltd. purchased a new stake in Nektar Therapeutics during the third quarter worth approximately $183,000. Raymond James Financial Services Advisors Inc. grew its stake in 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 worth $209,000 after buying an additional 1,747 shares during the period. Finally, Gabelli Funds LLC purchased a new stake in Nektar Therapeutics during the third quarter worth approximately $213,000. Institutional investors own 92.72% of the company’s stock.
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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