Brokerages Set Nektar Therapeutics (NASDAQ:NKTR) Target Price at $29.00

Nektar Therapeutics (NASDAQ:NKTR) has received a consensus rating of “Hold” from the nineteen analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $29.00.

NKTR has been the topic of a number of research analyst reports. Piper Jaffray Companies lowered their price target on Nektar Therapeutics from $50.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Zacks Investment Research upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Monday, November 11th. Goldman Sachs Group lowered Nektar Therapeutics from a “buy” rating to a “sell” rating and decreased their target price for the stock from $54.00 to $16.00 in a research report on Tuesday, October 8th. Canaccord Genuity upped their target price on shares of Nektar Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Oppenheimer began coverage on shares of Nektar Therapeutics in a research note on Thursday, October 24th. They set a “market perform” rating and a $18.00 target price on the stock.

In other Nektar Therapeutics news, CEO Howard W. Robin sold 33,334 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.48, for a total transaction of $582,678.32. Following the completion of the sale, the chief executive officer now directly owns 346,108 shares of the company’s stock, valued at $6,049,967.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Katharina Otto-Bernstein sold 29,127 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $36.72, for a total transaction of $1,069,543.44. In the last quarter, insiders have sold 175,178 shares of company stock valued at $3,738,898. 4.02% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Invesco Ltd. increased its holdings in Nektar Therapeutics by 1,057.7% in the 2nd quarter. Invesco Ltd. now owns 23,343,019 shares of the biopharmaceutical company’s stock worth $830,544,000 after acquiring an additional 21,326,731 shares in the last quarter. Great Point Partners LLC purchased a new stake in shares of Nektar Therapeutics in the third quarter worth $38,707,000. Millennium Management LLC purchased a new stake in shares of Nektar Therapeutics in the third quarter worth $18,034,000. Nuveen Asset Management LLC purchased a new stake in shares of Nektar Therapeutics in the second quarter worth $33,330,000. Finally, First Trust Advisors LP raised its position in shares of Nektar Therapeutics by 39.9% during the 2nd quarter. First Trust Advisors LP now owns 3,005,999 shares of the biopharmaceutical company’s stock valued at $106,953,000 after purchasing an additional 856,819 shares during the period. 99.77% of the stock is owned by hedge funds and other institutional investors.

NKTR stock traded up $0.59 during midday trading on Tuesday, hitting $20.45. The company’s stock had a trading volume of 2,283,909 shares, compared to its average volume of 3,004,504. The firm’s 50-day moving average is $18.97 and its 200-day moving average is $24.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 12.49 and a current ratio of 12.60. Nektar Therapeutics has a 12 month low of $15.64 and a 12 month high of $47.11.

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. As a group, research analysts forecast that Nektar Therapeutics will post -2.56 earnings per share for the current fiscal year.

Nektar Therapeutics Company Profile

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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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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