Aegis Raises Nektar Therapeutics (NKTR) Price Target to $24.00
Nektar Therapeutics (NASDAQ:NKTR) had its price objective lifted by stock analysts at Aegis to $24.00 in a report issued on Monday. Aegis’ price target would indicate a potential upside of 7.72% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Roth Capital boosted their price objective on shares of Nektar Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a report on Monday. Jefferies Group LLC reissued a “buy” rating and set a $17.00 price objective (up from $15.00) on shares of Nektar Therapeutics in a report on Friday, March 3rd. BTIG Research began coverage on shares of Nektar Therapeutics in a report on Friday, January 6th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Piper Jaffray Companies set a $25.00 price objective on shares of Nektar Therapeutics and gave the company a “buy” rating in a report on Monday, December 12th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.86.
Nektar Therapeutics (NASDAQ:NKTR) traded up 42.65% during mid-day trading on Monday, reaching $22.11. 15,338,226 shares of the company’s stock traded hands. The stock has a 50 day moving average of $13.78 and a 200 day moving average of $14.35. The company’s market cap is $3.40 billion. Nektar Therapeutics has a 12-month low of $11.41 and a 12-month high of $22.32.
Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Wednesday, March 1st. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by $0.02. Nektar Therapeutics had a negative net margin of 98.87% and a negative return on equity of 8,769.15%. The company had revenue of $37.45 million for the quarter, compared to analysts’ expectations of $40.83 million. During the same period in the previous year, the firm earned ($0.40) earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts predict that Nektar Therapeutics will post ($1.35) earnings per share for the current fiscal year.
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In related news, COO John Nicholson sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $12.39, for a total transaction of $929,250.00. Following the completion of the sale, the chief operating officer now directly owns 206,821 shares in the company, valued at $2,562,512.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Howard W. Robin sold 87,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $12.35, for a total transaction of $1,080,625.00. Following the sale, the chief executive officer now owns 265,408 shares of the company’s stock, valued at $3,277,788.80. The disclosure for this sale can be found here. Insiders have sold 465,689 shares of company stock valued at $6,389,028 over the last 90 days. 6.10% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Camber Capital Management LLC raised its stake in shares of Nektar Therapeutics by 87.5% in the fourth quarter. Camber Capital Management LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock valued at $73,620,000 after buying an additional 2,800,000 shares during the period. Norges Bank acquired a new stake in shares of Nektar Therapeutics during the fourth quarter valued at about $31,574,000. Numeric Investors LLC acquired a new stake in shares of Nektar Therapeutics during the fourth quarter valued at about $1,014,000. Thrivent Financial for Lutherans raised its stake in shares of Nektar Therapeutics by 16.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 82,150 shares of the biopharmaceutical company’s stock valued at $1,008,000 after buying an additional 11,770 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Nektar Therapeutics by 565.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,536 shares of the biopharmaceutical company’s stock valued at $339,000 after buying an additional 23,400 shares during the period. Institutional investors own 86.80% 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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