Nektar Therapeutics (NKTR) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Nektar Therapeutics (NASDAQ:NKTR) from a hold rating to a sell rating in a research report report published on Tuesday morning.

According to Zacks, “Nektar relies heavily on partners for revenues. Partnership-related setbacks may thus weigh heavily on the company, while disappointing products sales could leave an adverse impact on its financial results. Moreover, competition from various pharmaceutical and biotechnology companies is another matter of concern. Also, gaining approval for pipeline candidates has become more difficult with an increasingly stringent regulatory environment. However, regular partnerships have enhanced the company’s financial position. Nektar stands to receive significant sales milestone payment plus royalties for Movantik under the license agreement with AstraZeneca. Also, its recent co-development deal with Lilly for NKTR-358 is encouraging. Shares of the company have outperformed the industry in the last one year.”

Several other brokerages also recently commented on NKTR. Mizuho assumed coverage on Nektar Therapeutics in a research report on Tuesday, September 26th. They issued a buy rating and a $30.00 price target on the stock. Canaccord Genuity Group lifted their price target on Nektar Therapeutics from $35.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, November 15th. Canaccord Genuity lifted their price target on Nektar Therapeutics from $35.00 to $50.00 and gave the stock a buy rating in a research report on Monday, November 13th. Roth Capital set a $45.00 price target on Nektar Therapeutics and gave the stock a buy rating in a research report on Monday, November 13th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and issued a $44.00 price target on shares of Nektar Therapeutics in a research report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $38.08.

Nektar Therapeutics (NKTR) traded up $2.12 on Tuesday, reaching $72.00. The company had a trading volume of 1,900,000 shares, compared to its average volume of 2,270,000. Nektar Therapeutics has a 12-month low of $11.41 and a 12-month high of $73.95. The company has a current ratio of 4.14, a quick ratio of 3.99 and a debt-to-equity ratio of 2.91. The firm has a market cap of $11,340.00, a price-to-earnings ratio of -101.41 and a beta of 1.81.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.16. Nektar Therapeutics had a negative return on equity of 190.68% and a negative net margin of 42.08%. The firm had revenue of $152.90 million during the quarter, compared to analyst estimates of $126.50 million. During the same period in the previous year, the company earned ($0.32) EPS. The company’s revenue for the quarter was up 321.2% on a year-over-year basis. research analysts expect that Nektar Therapeutics will post -0.75 EPS for the current year.

In other news, CEO Howard W. Robin sold 83,334 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.57, for a total transaction of $1,964,182.38. Following the sale, the chief executive officer now directly owns 235,838 shares in the company, valued at $5,558,701.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Maninder Hora sold 5,117 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $25.07, for a total value of $128,283.19. Following the sale, the senior vice president now owns 52,016 shares in the company, valued at $1,304,041.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 614,017 shares of company stock worth $20,587,527. Company insiders own 6.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NKTR. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Nektar Therapeutics by 14.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 692 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $129,000. Mark Sheptoff Financial Planning LLC increased its position in shares of Nektar Therapeutics by 79.4% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $146,000 after purchasing an additional 2,700 shares during the period. Flinton Capital Management LLC increased its position in shares of Nektar Therapeutics by 75.7% during the second quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock valued at $154,000 after purchasing an additional 3,392 shares during the period. Finally, Riverhead Capital Management LLC increased its position in shares of Nektar Therapeutics by 78.7% during the second quarter. Riverhead Capital Management LLC now owns 8,754 shares of the biopharmaceutical company’s stock valued at $171,000 after purchasing an additional 3,854 shares during the period. Institutional investors and hedge funds own 96.01% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Nektar Therapeutics (NKTR) Downgraded to “Sell” at Zacks Investment Research” was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright & trademark law. The original version of this piece of content can be accessed at https://sportsperspectives.com/2018/01/13/nektar-therapeutics-nktr-downgraded-to-sell-at-zacks-investment-research.html.

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.

Get a free copy of the Zacks research report on Nektar Therapeutics (NKTR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nektar Therapeutics (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