HC Wainwright Reiterates “Hold” Rating for Nektar Therapeutics (NKTR)

HC Wainwright reiterated their hold rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report issued on Monday, Marketbeat Ratings reports. The firm currently has a $47.00 price objective on the biopharmaceutical company’s stock.

“Given the rapid changes in commercially vital TNBC, where peers have surged forward, we incorporated a number of changes to our assumptions, including: (1) after analysis of competitor combination data in TNBC, SCLC and RCC, we have removed TNBC from our model entirely; and (2) additionally, we have reduced our peak adoption estimates in RCC to 15% from 20%, and SCLC to 15% from 25%. 2018, we had eliminated NSCLC from our model.”,” HC Wainwright’s analyst commented.

A number of other brokerages have also issued reports on NKTR. ValuEngine upgraded shares of Nektar Therapeutics from a hold rating to a buy rating in a research note on Tuesday, August 28th. BidaskClub lowered shares of Nektar Therapeutics from a strong-buy rating to a buy rating in a research note on Saturday, September 8th. TheStreet upgraded shares of Nektar Therapeutics from a d rating to a c rating in a research note on Wednesday, August 8th. William Blair restated an outperform rating on shares of Nektar Therapeutics in a research note on Thursday, August 9th. Finally, Cowen restated a buy rating and set a $86.00 price target on shares of Nektar Therapeutics in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $79.55.

Shares of Nektar Therapeutics stock opened at $35.31 on Monday. The company has a current ratio of 19.67, a quick ratio of 19.55 and a debt-to-equity ratio of 0.13. Nektar Therapeutics has a 12-month low of $30.30 and a 12-month high of $111.36. The company has a market cap of $6.22 billion, a price-to-earnings ratio of -64.20 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) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.07. Nektar Therapeutics had a net margin of 65.69% and a return on equity of 174.70%. The business had revenue of $27.80 million for the quarter, compared to analyst estimates of $26.08 million. During the same quarter in the prior year, the business posted $0.37 EPS. Nektar Therapeutics’s revenue for the quarter was down 81.8% compared to the same quarter last year. Research analysts forecast that Nektar Therapeutics will post 3.57 EPS for the current year.

In other news, Director Dennis L. Winger sold 30,000 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $59.96, for a total value of $1,798,800.00. Following the sale, the director now owns 57,750 shares in the company, valued at $3,462,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dennis L. Winger sold 34,250 shares of the stock in a transaction 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 completion of the sale, the director now owns 59,875 shares in the company, valued at approximately $3,628,425. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock worth $5,825,680 in the last quarter. Company insiders own 4.31% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Andra AP fonden increased its stake in shares of Nektar Therapeutics by 6.3% in the third quarter. Andra AP fonden now owns 16,800 shares of the biopharmaceutical company’s stock worth $1,024,000 after acquiring an additional 1,000 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Nektar Therapeutics by 27.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,784 shares of the biopharmaceutical company’s stock valued at $234,000 after buying an additional 1,018 shares during the period. Flagship Harbor Advisors LLC grew its position in Nektar Therapeutics by 43.6% during the third quarter. Flagship Harbor Advisors LLC now owns 4,182 shares of the biopharmaceutical company’s stock valued at $237,000 after buying an additional 1,269 shares during the period. United Services Automobile Association grew its position in Nektar Therapeutics by 2.6% during the second quarter. United Services Automobile Association now owns 50,077 shares of the biopharmaceutical company’s stock valued at $2,445,000 after buying an additional 1,281 shares during the period. Finally, Securian Asset Management Inc grew its position in Nektar Therapeutics by 8.9% during the third quarter. Securian Asset Management Inc now owns 17,760 shares of the biopharmaceutical company’s stock valued at $1,083,000 after buying an additional 1,449 shares during the period. Hedge funds and other 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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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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