Nektar Therapeutics (NASDAQ:NKTR) Stock Price Up 8.8%

Nektar Therapeutics (NASDAQ:NKTR) shares were up 8.8% during trading on Wednesday . The company traded as high as $19.98 and last traded at $19.93, approximately 3,249,700 shares were traded during mid-day trading. An increase of 36% from the average daily volume of 2,392,690 shares. The stock had previously closed at $18.31.

A number of research analysts recently weighed in on NKTR shares. Cowen reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Thursday, November 7th. Goldman Sachs Group cut Nektar Therapeutics from a “buy” rating to a “sell” rating and lowered their price objective for the company from $54.00 to $16.00 in a research note on Tuesday, October 8th. TheStreet downgraded Nektar Therapeutics from a “c” rating to a “d” rating in a report on Thursday, August 8th. HC Wainwright increased their target price on Nektar Therapeutics from $24.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, BidaskClub upgraded Nektar Therapeutics from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.64.

The firm has a market capitalization of $3.46 billion, a P/E ratio of 5.27 and a beta of 2.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 12.49 and a current ratio of 12.60. The firm has a 50-day moving average of $18.05 and a 200-day moving average of $25.48.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.17. Nektar Therapeutics had a negative return on equity of 26.60% and a negative net margin of 352.83%. The business had revenue of $29.22 million during the quarter, compared to analyst estimates of $26.42 million. During the same quarter last year, the company earned ($0.56) EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts forecast that Nektar Therapeutics will post -2.56 EPS for the current fiscal year.

In related news, Director Robert Chess sold 4,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $17.99, for a total transaction of $71,960.00. Following the transaction, the director now owns 276,973 shares in the company, valued at $4,982,744.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Stephen K. Doberstein bought 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average price of $17.28 per share, for a total transaction of $259,200.00. Following the acquisition, the senior vice president now directly owns 107,668 shares of the company’s stock, valued at approximately $1,860,503.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 175,178 shares of company stock worth $3,738,898. Corporate insiders own 4.02% of the company’s stock.

Large investors have recently bought and sold shares of the business. Invesco Ltd. raised its stake in Nektar Therapeutics by 1,057.7% during the 2nd quarter. Invesco Ltd. now owns 23,343,019 shares of the biopharmaceutical company’s stock valued at $830,544,000 after buying an additional 21,326,731 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Nektar Therapeutics in the second quarter worth $33,330,000. First Trust Advisors LP grew its holdings in shares of Nektar Therapeutics by 39.9% in the second quarter. First Trust Advisors LP now owns 3,005,999 shares of the biopharmaceutical company’s stock worth $106,953,000 after acquiring an additional 856,819 shares during the period. BlackRock Inc. increased its position in Nektar Therapeutics by 6.0% during the second quarter. BlackRock Inc. now owns 13,264,987 shares of the biopharmaceutical company’s stock valued at $471,969,000 after acquiring an additional 749,644 shares during the last quarter. Finally, Camber Capital Management LP increased its position in Nektar Therapeutics by 25.0% during the second quarter. Camber Capital Management LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $88,950,000 after acquiring an additional 500,000 shares during the last quarter. 93.05% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Company Profile (NASDAQ:NKTR)

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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