Brean Capital restated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research note released on Friday morning. They currently have a $23.00 target price on the biopharmaceutical company’s stock.
NKTR has been the topic of several other research reports. Zacks Investment Research downgraded shares of Nektar Therapeutics from a hold rating to a sell rating in a report on Friday, August 26th. Jefferies Group restated a buy rating on shares of Nektar Therapeutics in a report on Thursday, September 8th. Finally, Piper Jaffray Cos. restated an overweight rating and set a $21.00 price objective (up previously from $17.00) on shares of Nektar Therapeutics in a report on Friday, August 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Nektar Therapeutics presently has a consensus rating of Buy and a consensus price target of $21.75.
Shares of Nektar Therapeutics (NASDAQ:NKTR) opened at 17.06 on Friday. Nektar Therapeutics has a 52 week low of $9.92 and a 52 week high of $19.98. The stock has a 50 day moving average of $18.19 and a 200-day moving average of $15.88. The company’s market capitalization is $2.33 billion.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $32.77 million for the quarter, compared to analyst estimates of $34.17 million. During the same quarter last year, the company earned ($0.40) EPS. The business’s revenue was up 44.6% compared to the same quarter last year. On average, analysts anticipate that Nektar Therapeutics will post ($1.11) EPS for the current year.
In related news, CEO Howard W. Robin sold 11,817 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $17.56, for a total value of $207,506.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jillian B. Thomsen sold 100,000 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $15.09, for a total transaction of $1,509,000.00. Following the completion of the transaction, the chief accounting officer now owns 106,809 shares in the company, valued at approximately $1,611,747.81. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Fortaleza Asset Management Inc. increased its position in shares of 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 period. BlackRock Inc. increased its position in shares of 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 period. Cubist Systematic Strategies LLC increased its position in shares of 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 period. Genesee Valley Trust Co. increased its position in shares of 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 period. Finally, HBK Investments L P acquired a new position in shares of Nektar Therapeutics during the first quarter valued at $178,000. Institutional investors 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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