Nektar Therapeutics (NKTR) Sees Unusually-High Trading Volume Following Analyst Upgrade

Nektar Therapeutics (NASDAQ:NKTR) saw an uptick in trading volume on Monday after Aegis raised their price target on the stock to $24.00. 15,334,116 shares traded hands during mid-day trading, an increase of 1,150% from the previous session’s volume of 1,227,150 shares.The stock last traded at $22.11 and had previously closed at $15.50.

A number of other analysts also recently issued reports on NKTR. Piper Jaffray Companies set a $25.00 price objective on shares of Nektar Therapeutics and gave the stock a “buy” rating in a research report on Monday, December 12th. BTIG Research assumed coverage on shares of Nektar Therapeutics in a research report on Friday, January 6th. They set a “buy” rating and a $22.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and set a $17.00 price objective (up from $15.00) on shares of Nektar Therapeutics in a research report on Friday, March 3rd. Finally, Roth Capital set a $23.00 price objective on shares of Nektar Therapeutics and gave the stock a “buy” rating in a research report on Saturday, March 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Nektar Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $22.86.

In other Nektar Therapeutics news, CEO Howard W. Robin sold 87,500 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $12.35, for a total transaction of $1,080,625.00. Following the completion of the transaction, the chief executive officer now owns 265,408 shares of the company’s stock, valued at $3,277,788.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gil M. Labrucherie sold 200,000 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $15.16, for a total transaction of $3,032,000.00. The disclosure for this sale can be found here. Insiders sold 465,689 shares of company stock valued at $6,389,028 over the last quarter. Company insiders own 6.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Nektar Therapeutics by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 1,825,071 shares of the biopharmaceutical company’s stock valued at $31,355,000 after buying an additional 56,079 shares during the period. Wells Fargo & Company MN raised its position in Nektar Therapeutics by 6.1% in the third quarter. Wells Fargo & Company MN now owns 115,326 shares of the biopharmaceutical company’s stock valued at $1,981,000 after buying an additional 6,604 shares during the last quarter. New York State Teachers Retirement System raised its position in Nektar Therapeutics by 0.5% in the fourth quarter. New York State Teachers Retirement System now owns 255,224 shares of the biopharmaceutical company’s stock valued at $3,132,000 after buying an additional 1,300 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Nektar Therapeutics by 1.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,353,625 shares of the biopharmaceutical company’s stock valued at $57,615,000 after buying an additional 61,918 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in Nektar Therapeutics by 7.3% in the third quarter. BlackRock Fund Advisors now owns 10,970,974 shares of the biopharmaceutical company’s stock valued at $188,481,000 after buying an additional 749,496 shares during the last quarter. 86.80% of the stock is owned by institutional investors.

The company’s 50-day moving average is $13.78 and its 200-day moving average is $14.35. The firm’s market capitalization is $3.40 billion.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $0.02. The business had revenue of $37.45 million for the quarter, compared to analysts’ expectations of $40.83 million. Nektar Therapeutics had a negative net margin of 98.87% and a negative return on equity of 8,769.15%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.40) earnings per share. On average, equities research analysts expect that Nektar Therapeutics will post ($1.35) EPS for the current year.

Your IP Address:

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.

5 Day Chart for NASDAQ:NKTR

Receive News & Ratings for Nektar Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nektar Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply