Nektar Therapeutics (NASDAQ:NKTR) Downgraded by BidaskClub to “Strong Sell”

BidaskClub lowered shares of Nektar Therapeutics (NASDAQ:NKTR) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other brokerages also recently commented on NKTR. Cowen set a $200.00 price objective on shares of Lululemon Athletica and gave the company a buy rating in a research report on Thursday, June 13th. Zacks Investment Research downgraded shares of Hess Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, May 14th. Mizuho reissued a buy rating and issued a $81.00 price objective on shares of Nektar Therapeutics in a research report on Friday, May 24th. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a research report on Monday, June 3rd. Finally, William Blair reissued a buy rating on shares of Nektar Therapeutics in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $68.50.

Nektar Therapeutics stock opened at $31.97 on Tuesday. The company has a market capitalization of $5.57 billion, a P/E ratio of 8.46 and a beta of 2.74. Nektar Therapeutics has a 1-year low of $29.22 and a 1-year high of $69.76. The company has a fifty day simple moving average of $33.99. The company has a current ratio of 14.94, a quick ratio of 14.83 and a debt-to-equity ratio of 0.21.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.03. The business had revenue of $28.22 million during the quarter, compared to the consensus estimate of $25.45 million. Nektar Therapeutics had a net margin of 55.65% and a return on equity of 37.63%. During the same quarter last year, the firm earned ($0.60) earnings per share. As a group, analysts predict that Nektar Therapeutics will post -3.13 earnings per share for the current fiscal year.

In other news, CFO Gil M. Labrucherie sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $34.57, for a total transaction of $864,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stephen K. Doberstein sold 3,461 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $31.37, for a total transaction of $108,571.57. Following the sale, the senior vice president now owns 95,913 shares of the company’s stock, valued at approximately $3,008,790.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,949 shares of company stock valued at $7,285,900. 4.02% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in 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 purchasing an additional 2,041,954 shares in the last quarter. Norges Bank acquired a new stake in Nektar Therapeutics in the 4th quarter worth about $63,723,000. Deutsche Bank AG raised its stake in Nektar Therapeutics by 131.6% in the 4th quarter. Deutsche Bank AG now owns 947,004 shares of the biopharmaceutical company’s stock worth $31,125,000 after purchasing an additional 538,170 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in Nektar Therapeutics in the 4th quarter worth about $10,638,000. Finally, Rhenman & Partners Asset Management AB raised its stake in Nektar Therapeutics by 42.6% in the 1st quarter. Rhenman & Partners Asset Management AB now owns 734,445 shares of the biopharmaceutical company’s stock worth $24,677,000 after purchasing an additional 219,445 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

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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