Nektar Therapeutics (NKTR) Research Coverage Started at Cowen and Company
Cowen and Company initiated coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research report sent to investors on Tuesday. The brokerage issued an outperform rating on the biopharmaceutical company’s stock.
Other equities research analysts have also recently issued reports about the stock. Jefferies Group LLC restated a buy rating and issued a $23.00 price target on shares of Nektar Therapeutics in a report on Friday, August 18th. BidaskClub upgraded shares of Nektar Therapeutics from a sell rating to a hold rating in a report on Thursday, August 17th. HC Wainwright began coverage on shares of Nektar Therapeutics in a report on Monday, August 7th. They issued a buy rating and a $31.00 price target for the company. Zacks Investment Research cut shares of Nektar Therapeutics from a buy rating to a hold rating in a report on Friday, August 11th. Finally, William Blair restated an outperform rating on shares of Nektar Therapeutics in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $28.64.
Shares of Nektar Therapeutics (NASDAQ:NKTR) traded up $0.76 during midday trading on Tuesday, reaching $32.50. 3,066,164 shares of the company were exchanged, compared to its average volume of 1,508,112. Nektar Therapeutics has a fifty-two week low of $11.41 and a fifty-two week high of $33.67. The company has a quick ratio of 3.82, a current ratio of 4.14 and a debt-to-equity ratio of 2.91.
Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The business had revenue of $152.90 million during the quarter, compared to the consensus estimate of $126.50 million. During the same quarter last year, the firm earned ($0.32) earnings per share. Nektar Therapeutics’s quarterly revenue was up 321.2% on a year-over-year basis. research analysts predict that Nektar Therapeutics will post -0.95 EPS for the current fiscal year.
In related news, SVP Stephen K. Doberstein sold 1,701 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $19.32, for a total transaction of $32,863.32. Following the transaction, the senior vice president now directly owns 31,102 shares of the company’s stock, valued at $600,890.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jillian B. Thomsen sold 2,648 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $19.32, for a total transaction of $51,159.36. The disclosure for this sale can be found here. Insiders have sold 1,024,757 shares of company stock valued at $25,974,361 over the last quarter. Corporate insiders own 6.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its position in shares of Nektar Therapeutics by 1.0% during the second quarter. Arizona State Retirement System now owns 80,945 shares of the biopharmaceutical company’s stock valued at $1,582,000 after purchasing an additional 800 shares in the last quarter. State of Wisconsin Investment Board bought a new position in shares of Nektar Therapeutics during the second quarter valued at about $2,248,000. Bank of New York Mellon Corp lifted its position in shares of Nektar Therapeutics by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 2,138,632 shares of the biopharmaceutical company’s stock valued at $41,812,000 after purchasing an additional 12,730 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Nektar Therapeutics by 9.1% during the second quarter. Ameriprise Financial Inc. now owns 952,443 shares of the biopharmaceutical company’s stock valued at $18,620,000 after purchasing an additional 79,510 shares in the last quarter. Finally, Piedmont Investment Advisors LLC lifted its position in shares of Nektar Therapeutics by 264.6% during the second quarter. Piedmont Investment Advisors LLC now owns 33,545 shares of the biopharmaceutical company’s stock valued at $656,000 after purchasing an additional 24,344 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.
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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