Nektar Therapeutics (NASDAQ:NKTR) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.
NKTR has been the topic of a number of other reports. HC Wainwright set a $54.00 price objective on Nektar Therapeutics and gave the stock a “hold” rating in a research note on Friday, August 10th. Zacks Investment Research upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Monday, July 16th. Piper Jaffray Companies set a $125.00 price objective on Nektar Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, August 8th. ValuEngine lowered Nektar Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, Mizuho reiterated a “buy” rating and issued a $103.00 price objective on shares of Nektar Therapeutics in a research note on Thursday, August 9th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Nektar Therapeutics has a consensus rating of “Buy” and a consensus price target of $82.91.
NASDAQ NKTR opened at $65.00 on Friday. Nektar Therapeutics has a fifty-two week low of $21.11 and a fifty-two week high of $111.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 19.55 and a current ratio of 19.67. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of -118.18 and a beta of 2.27.
Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Wednesday, August 8th. The biopharmaceutical company reported $5.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.22 by $0.11. Nektar Therapeutics had a return on equity of 174.70% and a net margin of 65.69%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned ($0.39) earnings per share. The business’s revenue was up 3043.7% compared to the same quarter last year. analysts anticipate that Nektar Therapeutics will post 3.77 earnings per share for the current fiscal year.
In related news, Director R Scott Greer sold 10,000 shares of Nektar Therapeutics stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $67.39, for a total transaction of $673,900.00. Following the sale, the director now directly owns 140,333 shares of the company’s stock, valued at $9,457,040.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dennis L. Winger sold 34,250 shares of Nektar Therapeutics stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $60.60, for a total value of $2,075,550.00. Following the sale, the director now directly owns 59,875 shares in the company, valued at $3,628,425. The disclosure for this sale can be found here. Insiders sold 262,584 shares of company stock worth $14,125,718 over the last quarter. 4.31% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. HRT Financial LLC acquired a new stake in Nektar Therapeutics during the second quarter worth about $421,000. Advisors Asset Management Inc. acquired a new stake in Nektar Therapeutics during the second quarter worth about $373,000. Public Employees Retirement System of Ohio acquired a new stake in Nektar Therapeutics during the second quarter worth about $3,130,000. HighPoint Advisor Group LLC grew its position in Nektar Therapeutics by 66.4% during the second quarter. HighPoint Advisor Group LLC now owns 11,335 shares of the biopharmaceutical company’s stock worth $680,000 after buying an additional 4,522 shares in the last quarter. Finally, WINTON GROUP Ltd grew its position in Nektar Therapeutics by 41.1% during the second quarter. WINTON GROUP Ltd now owns 7,685 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 2,238 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors and hedge funds.
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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