Nektar Therapeutics (NKTR) – Investment Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Nektar Therapeutics (NASDAQ: NKTR) in the last few weeks:

  • 10/8/2019 – Nektar Therapeutics was downgraded by analysts at Goldman Sachs Group Inc from a “buy” rating to a “sell” rating. They now have a $16.00 price target on the stock, down previously from $54.00.
  • 9/30/2019 – Nektar Therapeutics was given a new $24.00 price target on by analysts at HC Wainwright. They now have a “hold” rating on the stock.
  • 9/26/2019 – Nektar Therapeutics was given a new $43.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 9/26/2019 – Nektar Therapeutics had its “buy” rating reaffirmed by analysts at William Blair.
  • 9/26/2019 – Nektar Therapeutics was given a new $50.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.

Nektar Therapeutics stock traded up $0.20 during midday trading on Thursday, reaching $17.74. The stock had a trading volume of 31,757 shares, compared to its average volume of 5,091,505. Nektar Therapeutics has a 12 month low of $15.64 and a 12 month high of $51.28. The firm’s 50-day moving average price is $18.25 and its 200 day moving average price is $28.06. The firm has a market capitalization of $2.78 billion, a PE ratio of 4.69 and a beta of 2.65. The company has a quick ratio of 13.97, a current ratio of 14.09 and a debt-to-equity ratio of 0.22.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.80) by $0.17. Nektar Therapeutics had a negative return on equity of 25.25% and a negative net margin of 354.90%. The business had revenue of $23.32 million for the quarter, compared to analysts’ expectations of $26.65 million. During the same period in the previous year, the business posted $5.33 EPS. The firm’s quarterly revenue was down 97.9% compared to the same quarter last year. Equities research analysts expect that Nektar Therapeutics will post -2.85 EPS for the current year.

In other news, Director Jeffrey Robert Ajer sold 2,375 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $18.06, for a total transaction of $42,892.50. Following the sale, the director now directly owns 22,375 shares in the company, valued at $404,092.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jillian B. Thomsen sold 1,809 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.15, for a total value of $32,833.35. Following the sale, the senior vice president now owns 92,668 shares in the company, valued at $1,681,924.20. The disclosure for this sale can be found here. Insiders sold a total of 115,201 shares of company stock worth $2,610,340 over the last 90 days. 4.02% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in NKTR. Belpointe Asset Management LLC bought a new stake in shares of Nektar Therapeutics during the first quarter valued at about $100,000. Nordea Investment Management AB increased its position in shares of Nektar Therapeutics by 287.9% during the first quarter. Nordea Investment Management AB now owns 28,862 shares of the biopharmaceutical company’s stock valued at $971,000 after buying an additional 21,422 shares during the period. Horizon Investments LLC increased its position in shares of Nektar Therapeutics by 66.5% during the first quarter. Horizon Investments LLC now owns 10,122 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 4,043 shares during the period. DNB Asset Management AS increased its position in shares of Nektar Therapeutics by 3.5% during the second quarter. DNB Asset Management AS now owns 18,041 shares of the biopharmaceutical company’s stock valued at $642,000 after buying an additional 618 shares during the period. Finally, WINTON GROUP Ltd increased its position in shares of Nektar Therapeutics by 7.9% during the second quarter. WINTON GROUP Ltd now owns 7,283 shares of the biopharmaceutical company’s stock valued at $259,000 after buying an additional 532 shares during the period. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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