Nektar Therapeutics (NKTR) Price Target Cut to $73.00 by Analysts at Jefferies Financial Group

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.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.07. Nektar Therapeutics had a net margin of 59.71% and a return on equity of 113.04%. The firm had revenue of $27.80 million during the quarter, compared to analyst estimates of $26.08 million. During the same quarter in the prior year, the business posted $0.37 earnings per share. Nektar Therapeutics’s revenue for the quarter was down 81.8% compared to the same quarter last year. As a group, equities analysts forecast that Nektar Therapeutics will post 3.57 EPS for the current fiscal year.

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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