Nektar Therapeutics (NKTR) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Nektar has struck a clinical collaboration deal with Bristol-Myers under which the latter’s Opdivo will be evaluated in combination with Nektar’s NKTR-214 across five tumor types and seven potential indications. With this deal, Nektar is gaining a strong partner in the form of Bristol-Myers, a company with expertise in the field of immuno-oncology. Further, Nektar could expedite the development of NKTR-214, which is currently in a phase I/II study, in patients with solid tumors. Meanwhile, Nektar stands to receive significant sales milestone and royalty opportunity for Movantik under the AstraZeneca license agreement, which is likely to boost its financial position significantly. Moreover, if Nektar’s other partnered programs are successful, they could contribute to the company’s royalty streams as early as 2017. However, the company relies heavily on its partners for top line growth. Stiff competition is another concern.”
Several other analysts have also recently weighed in on NKTR. Brean Capital reissued a buy rating on shares of Nektar Therapeutics in a research note on Wednesday, June 1st. Piper Jaffray Cos. reissued an overweight rating and issued a $21.00 price objective (up previously from $17.00) on shares of Nektar Therapeutics in a research note on Friday, August 5th. Finally, Jefferies Group reissued a buy rating on shares of Nektar Therapeutics in a research note on Thursday, September 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $19.50.
Nektar Therapeutics (NASDAQ:NKTR) traded down 0.030% during trading on Thursday, hitting $16.945. The company had a trading volume of 260,830 shares. The stock has a 50-day moving average of $18.21 and a 200-day moving average of $15.73. The stock’s market capitalization is $2.32 billion. Nektar Therapeutics has a one year low of $9.92 and a one year high of $19.98.
Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $32.77 million for the quarter, compared to the consensus estimate of $34.17 million. Nektar Therapeutics had a negative return on equity of 8,769.15% and a negative net margin of 68.30%. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) EPS. On average, equities analysts anticipate that Nektar Therapeutics will post ($1.11) EPS for the current year.
In related news, CAO Jillian B. Thomsen sold 100,000 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $15.09, for a total value of $1,509,000.00. Following the transaction, the chief accounting officer now owns 106,809 shares in the company, valued at $1,611,747.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Chess sold 12,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $19.21, for a total transaction of $230,520.00. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in NKTR. Fortaleza Asset Management Inc. raised its position in Nektar Therapeutics by 35.0% in the second quarter. Fortaleza Asset Management Inc. now owns 8,105 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 2,100 shares during the last quarter. BlackRock Inc. raised its position in Nektar Therapeutics by 74.8% in the first quarter. BlackRock Inc. now owns 9,013 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 3,858 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Nektar Therapeutics by 500.7% in the second quarter. Cubist Systematic Strategies LLC now owns 11,911 shares of the biopharmaceutical company’s stock valued at $169,000 after buying an additional 9,928 shares during the last quarter. Genesee Valley Trust Co. raised its position in Nektar Therapeutics by 5.7% in the second quarter. Genesee Valley Trust Co. now owns 12,135 shares of the biopharmaceutical company’s stock valued at $173,000 after buying an additional 650 shares during the last quarter. Finally, HBK Investments L P purchased a new position in Nektar Therapeutics during the first quarter valued at about $178,000. Institutional investors and hedge funds own 96.91% of the company’s stock.
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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