Nektar Therapeutics (NKTR) Stock Rating Reaffirmed by Brean Capital
Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating reaffirmed by equities researchers at Brean Capital in a research note issued on Friday. They currently have a $23.00 target price on the biopharmaceutical company’s stock. Brean Capital’s target price would indicate a potential upside of 33.88% from the company’s current price.
A number of other research analysts have also recently commented on NKTR. Zacks Investment Research raised Nektar Therapeutics from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research report on Tuesday, July 19th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $21.00 price target (up previously from $17.00) on shares of Nektar Therapeutics in a research report on Friday, August 5th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Thursday, September 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.75.
Nektar Therapeutics (NASDAQ:NKTR) traded up 1.36% on Friday, reaching $17.18. The company’s stock had a trading volume of 1,269,349 shares. The firm’s market cap is $2.35 billion. Nektar Therapeutics has a 52-week low of $9.92 and a 52-week high of $19.98. The stock’s 50 day moving average price is $18.21 and its 200 day moving average price is $15.76.
Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.03. Nektar Therapeutics had a negative net margin of 68.30% and a negative return on equity of 8,769.15%. The firm had revenue of $32.77 million for the quarter, compared to analysts’ expectations of $34.17 million. During the same period in the prior year, the company earned ($0.40) EPS. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. Equities research analysts expect that Nektar Therapeutics will post ($1.11) earnings per share for the current fiscal year.
In other Nektar Therapeutics news, CFO Gil M. Labrucherie sold 3,305 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $17.56, for a total value of $58,035.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher A. Kuebler sold 7,500 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $19.13, for a total value of $143,475.00. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Bridger Management LLC acquired a new stake in Nektar Therapeutics during the first quarter valued at $48,359,000. State Street Corp boosted its stake in Nektar Therapeutics by 4.5% in the first quarter. State Street Corp now owns 3,480,120 shares of the biopharmaceutical company’s stock valued at $47,852,000 after buying an additional 151,371 shares during the last quarter. Cormorant Asset Management LLC boosted its stake in Nektar Therapeutics by 161.4% in the first quarter. Cormorant Asset Management LLC now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $27,500,000 after buying an additional 1,234,844 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Nektar Therapeutics by 30.3% in the first quarter. UBS Asset Management Americas Inc. now owns 132,265 shares of the biopharmaceutical company’s stock valued at $1,819,000 after buying an additional 30,786 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in Nektar Therapeutics by 8.9% in the first quarter. BlackRock Group LTD now owns 175,205 shares of the biopharmaceutical company’s stock valued at $2,408,000 after buying an additional 14,340 shares during the last quarter. 96.91% of the stock is currently owned by hedge funds and other institutional investors.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.
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