Cowen Reaffirms Buy Rating for Nektar Therapeutics (NASDAQ:NKTR)

Cowen reiterated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report released on Thursday, AnalystRatings.com reports.

Several other analysts have also issued reports on NKTR. Evercore ISI reissued a hold rating and set a $37.00 price target on shares of Nektar Therapeutics in a report on Sunday, August 11th. TheStreet lowered Nektar Therapeutics from a c rating to a d rating in a report on Thursday, August 8th. Oppenheimer began coverage on Nektar Therapeutics in a report on Thursday, October 24th. They set a market perform rating and a $18.00 price target for the company. Zacks Investment Research lowered Nektar Therapeutics from a buy rating to a hold rating and set a $34.00 price target for the company. in a report on Wednesday, July 31st. Finally, Mizuho reissued a hold rating and set a $21.00 price target on shares of Nektar Therapeutics in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $34.57.

NASDAQ:NKTR traded up $1.34 during trading hours on Thursday, reaching $20.04. 3,963,600 shares of the company traded hands, compared to its average volume of 2,359,833. The business’s 50-day moving average price is $17.90 and its two-hundred day moving average price is $26.15. Nektar Therapeutics has a 1 year low of $15.64 and a 1 year high of $47.11. The company has a current ratio of 14.09, a quick ratio of 13.97 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.25 billion, a P/E ratio of 5.30 and a beta of 2.62.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) 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 $29.22 million during the quarter, compared to analyst estimates of $26.42 million. During the same quarter in the previous year, the company posted ($0.56) earnings per share. Nektar Therapeutics’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Nektar Therapeutics will post -2.85 EPS for the current year.

In other news, SVP Jillian B. Thomsen sold 1,809 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.15, for a total value of $32,833.35. Following the completion of the transaction, the senior vice president now owns 92,668 shares of the company’s stock, valued at $1,681,924.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 33,334 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.48, for a total value of $582,678.32. Following the completion of the transaction, the chief executive officer now directly owns 346,108 shares of the company’s stock, valued at approximately $6,049,967.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,328 shares of company stock valued at $3,587,957. Corporate insiders own 4.02% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC lifted its position in shares of Nektar Therapeutics by 1,566.7% in the second quarter. Capital Investment Advisory Services LLC now owns 1,000 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 940 shares in the last quarter. Kavar Capital Partners LLC purchased a new stake in shares of Nektar Therapeutics in the second quarter worth about $44,000. Gemmer Asset Management LLC lifted its position in shares of Nektar Therapeutics by 476.8% in the second quarter. Gemmer Asset Management LLC now owns 1,390 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 1,149 shares in the last quarter. Coastal Investment Advisors Inc. lifted its position in shares of Nektar Therapeutics by 334.3% in the second quarter. Coastal Investment Advisors Inc. now owns 1,937 shares of the biopharmaceutical company’s stock worth $70,000 after buying an additional 1,491 shares in the last quarter. Finally, CSat Investment Advisory L.P. lifted its position in shares of Nektar Therapeutics by 54.3% in the second quarter. CSat Investment Advisory L.P. now owns 2,071 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 729 shares in the last quarter. 93.37% of the stock is owned by hedge funds and other institutional investors.

Nektar Therapeutics Company Profile

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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