Nektar Therapeutics (NKTR) Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of Nektar Therapeutics (NASDAQ:NKTR) from a sell rating to a strong sell rating in a research report released on Thursday morning, BidAskClub reports.

A number of other equities research analysts have also issued reports on the stock. Svb Leerink assumed coverage on shares of Nektar Therapeutics in a report on Friday, March 15th. They set a mkt perform rating and a $38.00 target price on the stock. Leerink Swann assumed coverage on shares of Nektar Therapeutics in a report on Friday, March 15th. They set a market perform rating on the stock. HC Wainwright reiterated a hold rating and set a $47.00 target price on shares of Nektar Therapeutics in a report on Monday, March 4th. Piper Jaffray Companies set a $100.00 target price on shares of Nektar Therapeutics and gave the stock a buy rating in a report on Friday, March 1st. Finally, TheStreet upgraded shares of Nektar Therapeutics from a d+ rating to a c rating in a report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $73.92.

Nektar Therapeutics stock traded up $0.49 during mid-day trading on Thursday, reaching $31.68. 3,676,054 shares of the company’s stock were exchanged, compared to its average volume of 1,757,441. The firm has a market cap of $5.52 billion, a PE ratio of 8.38 and a beta of 3.05. Nektar Therapeutics has a twelve month low of $29.22 and a twelve month high of $92.55. The company has a quick ratio of 17.39, a current ratio of 17.53 and a debt-to-equity ratio of 0.14.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, February 28th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.70) by $0.13. The company had revenue of $39.83 million for the quarter, compared to analyst estimates of $25.97 million. Nektar Therapeutics had a net margin of 57.09% and a return on equity of 50.22%. During the same period in the prior year, the business earned ($0.21) EPS. On average, equities research analysts anticipate that Nektar Therapeutics will post -3.02 earnings per share for the current fiscal year.

In other Nektar Therapeutics news, SVP Maninder Hora sold 2,386 shares of the firm’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $42.39, for a total transaction of $101,142.54. Following the transaction, the senior vice president now directly owns 99,374 shares of the company’s stock, valued at approximately $4,212,463.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nicholson sold 63,000 shares of the firm’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $42.82, for a total transaction of $2,697,660.00. Following the transaction, the chief operating officer now directly owns 237,477 shares in the company, valued at $10,168,765.14. The disclosure for this sale can be found here. Insiders sold a total of 241,824 shares of company stock worth $10,249,993 over the last ninety days. Insiders own 4.31% of the company’s stock.

Institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Nektar Therapeutics by 8.5% in the 4th quarter. FMR LLC now owns 25,961,520 shares of the biopharmaceutical company’s stock worth $853,355,000 after acquiring an additional 2,041,954 shares during the period. Vanguard Group Inc lifted its stake in shares of Nektar Therapeutics by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 18,922,650 shares of the biopharmaceutical company’s stock worth $1,153,525,000 after acquiring an additional 660,907 shares during the period. First Trust Advisors LP lifted its stake in shares of Nektar Therapeutics by 11.6% in the 4th quarter. First Trust Advisors LP now owns 2,309,172 shares of the biopharmaceutical company’s stock worth $75,902,000 after acquiring an additional 240,272 shares during the period. Norges Bank acquired a new stake in shares of Nektar Therapeutics in the 4th quarter worth $63,723,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Nektar Therapeutics by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,418,699 shares of the biopharmaceutical company’s stock worth $46,634,000 after acquiring an additional 17,670 shares during the period. 94.63% of the stock is currently owned by institutional investors.

About Nektar Therapeutics

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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