Dai Ichi Life Insurance Company Ltd acquired a new position in shares of Nektar Therapeutics (NASDAQ:NKTR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,041 shares of the biopharmaceutical company’s stock, valued at approximately $588,000.
Several other hedge funds and other institutional investors have also modified their holdings of NKTR. Asset Management One Co. Ltd. purchased a new position in shares of Nektar Therapeutics during the first quarter worth about $110,000. Daiwa Securities Group Inc. purchased a new position in shares of Nektar Therapeutics during the first quarter worth about $111,000. We Are One Seven LLC purchased a new position in shares of Nektar Therapeutics during the first quarter worth about $118,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Nektar Therapeutics during the second quarter worth about $137,000. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Nektar Therapeutics by 68.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,290 shares of the biopharmaceutical company’s stock worth $209,000 after purchasing an additional 1,747 shares in the last quarter. 92.56% of the stock is owned by institutional investors.
Several brokerages have recently commented on NKTR. ValuEngine raised Nektar Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. BidaskClub lowered Nektar Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. Canaccord Genuity set a $94.00 target price on Nektar Therapeutics and gave the stock a “buy” rating in a research note on Friday, May 11th. HC Wainwright set a $125.00 target price on Nektar Therapeutics and gave the stock a “buy” rating in a research note on Monday, May 14th. Finally, Zacks Investment Research raised Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Monday, July 16th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $82.91.
In other news, CEO Howard W. Robin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, June 27th. The stock was sold at an average price of $49.52, for a total transaction of $6,437,600.00. Following the completion of the sale, the chief executive officer now owns 267,690 shares of the company’s stock, valued at $13,256,008.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Howard W. Robin sold 43,334 shares of the stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $51.82, for a total value of $2,245,567.88. Following the sale, the chief executive officer now directly owns 267,690 shares of the company’s stock, valued at approximately $13,871,695.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,584 shares of company stock valued at $14,125,718. Insiders own 4.31% of the company’s stock.
Shares of NKTR opened at $66.00 on Friday. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of -120.00 and a beta of 2.27. The company has a quick ratio of 19.55, a current ratio of 19.67 and a debt-to-equity ratio of 0.13. Nektar Therapeutics has a 1 year low of $21.11 and a 1 year high of $111.36.
Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Wednesday, August 8th. The biopharmaceutical company reported $5.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.22 by $0.11. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. Nektar Therapeutics had a return on equity of 174.70% and a net margin of 65.69%. Nektar Therapeutics’s revenue for the quarter was up 3043.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. sell-side analysts anticipate that Nektar Therapeutics will post 3.77 earnings per share for the current fiscal year.
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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