ValuEngine Upgrades Nektar Therapeutics (NKTR) to “Hold”
ValuEngine upgraded shares of Nektar Therapeutics (NASDAQ:NKTR) from a sell rating to a hold rating in a research note published on Friday morning.
Other analysts have also issued research reports about the stock. BidaskClub raised shares of Nektar Therapeutics from a sell rating to a hold rating in a report on Thursday, August 17th. Jefferies Group LLC reaffirmed a buy rating and set a $23.00 price objective on shares of Nektar Therapeutics in a report on Friday, August 18th. HC Wainwright assumed coverage on shares of Nektar Therapeutics in a report on Monday, August 7th. They set a buy rating and a $31.00 price objective for the company. Zacks Investment Research lowered shares of Nektar Therapeutics from a buy rating to a hold rating in a report on Friday, August 11th. Finally, William Blair reaffirmed an outperform rating on shares of Nektar Therapeutics in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $26.10.
Nektar Therapeutics (NASDAQ NKTR) opened at 21.60 on Friday. Nektar Therapeutics has a one year low of $11.41 and a one year high of $24.88. The company’s market capitalization is $3.38 billion. The company has a 50-day moving average price of $20.25 and a 200-day moving average price of $19.01.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.04. The firm had revenue of $34.60 million for the quarter, compared to analyst estimates of $33.64 million. Nektar Therapeutics had a negative return on equity of 1,223.34% and a negative net margin of 157.14%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.36) EPS. Equities research analysts anticipate that Nektar Therapeutics will post ($0.94) EPS for the current year.
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In related news, SVP Ivan P. Gergel sold 54,920 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $21.10, for a total value of $1,158,812.00. Following the completion of the sale, the senior vice president now owns 98,492 shares of the company’s stock, valued at $2,078,181.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Howard W. Robin sold 91,714 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $19.26, for a total transaction of $1,766,411.64. Following the completion of the sale, the chief executive officer now directly owns 152,504 shares of the company’s stock, valued at approximately $2,937,227.04. The disclosure for this sale can be found here. In the last three months, insiders sold 237,629 shares of company stock valued at $4,820,217. 5.44% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of NKTR. BlackRock Inc. increased its holdings in shares of Nektar Therapeutics by 180,432.9% in the first quarter. BlackRock Inc. now owns 20,035,546 shares of the biopharmaceutical company’s stock valued at $470,234,000 after purchasing an additional 20,024,448 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Nektar Therapeutics in the second quarter valued at approximately $34,661,000. PointState Capital LP increased its holdings in shares of Nektar Therapeutics by 281.7% in the second quarter. PointState Capital LP now owns 1,731,000 shares of the biopharmaceutical company’s stock valued at $33,841,000 after purchasing an additional 1,277,500 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Nektar Therapeutics in the first quarter valued at approximately $23,580,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Nektar Therapeutics in the first quarter valued at approximately $23,580,000. 95.15% of the stock is owned by institutional investors and hedge funds.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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