Nektar Therapeutics (NASDAQ:NKTR) had its price target dropped by Piper Jaffray Companies from $50.00 to $35.00 in a report released on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 74.65% from the stock’s current price. Piper Jaffray Companies also issued estimates for Nektar Therapeutics’ Q1 2021 earnings at ($0.65) EPS, Q2 2021 earnings at ($0.70) EPS and Q3 2021 earnings at ($0.70) EPS.
Several other research firms also recently issued reports on NKTR. Mizuho reissued a “hold” rating and issued a $21.00 price target on shares of Nektar Therapeutics in a research note on Thursday. TheStreet downgraded Nektar Therapeutics from a “c” rating to a “d” rating in a research note on Thursday, August 8th. Evercore ISI reissued a “hold” rating and issued a $37.00 price target on shares of Nektar Therapeutics in a research note on Sunday, August 11th. Cfra set a $35.00 price target on Nektar Therapeutics and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, BidaskClub downgraded Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $34.57.
NKTR traded up $1.34 during mid-day trading on Thursday, reaching $20.04. The stock had a trading volume of 3,963,600 shares, compared to its average volume of 2,359,833. The firm’s fifty day simple moving average is $17.90 and its two-hundred day simple moving average is $26.15. Nektar Therapeutics has a 52 week low of $15.64 and a 52 week high of $47.11. The stock has a market capitalization of $3.25 billion, a P/E ratio of 5.30 and a beta of 2.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 13.97 and a current ratio of 14.09.
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 firm had revenue of $29.22 million for the quarter, compared to the consensus estimate of $26.42 million. During the same quarter last year, the business posted ($0.56) EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts expect that Nektar Therapeutics will post -2.85 EPS for the current fiscal year.
In related news, major shareholder Katharina Otto-Bernstein sold 29,127 shares of Nektar Therapeutics stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $36.72, for a total value of $1,069,543.44. Also, SVP Stephen K. Doberstein bought 15,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average cost of $17.28 per share, for a total transaction of $259,200.00. Following the transaction, the senior vice president now owns 107,668 shares of the company’s stock, valued at approximately $1,860,503.04. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 169,328 shares of company stock worth $3,587,957. 4.02% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its holdings in Nektar Therapeutics by 1,057.7% during the second quarter. Invesco Ltd. now owns 23,343,019 shares of the biopharmaceutical company’s stock worth $830,544,000 after purchasing an additional 21,326,731 shares during the period. Vanguard Group Inc. grew its holdings in Nektar Therapeutics by 2.0% during the second quarter. Vanguard Group Inc. now owns 18,512,772 shares of the biopharmaceutical company’s stock worth $658,684,000 after purchasing an additional 356,193 shares during the period. BlackRock Inc. grew its holdings in Nektar Therapeutics by 6.0% during the second quarter. BlackRock Inc. now owns 13,264,987 shares of the biopharmaceutical company’s stock worth $471,969,000 after purchasing an additional 749,644 shares during the period. First Trust Advisors LP grew its holdings in Nektar Therapeutics by 39.9% during the second quarter. First Trust Advisors LP now owns 3,005,999 shares of the biopharmaceutical company’s stock worth $106,953,000 after purchasing an additional 856,819 shares during the period. Finally, Camber Capital Management LP grew its holdings in Nektar Therapeutics by 25.0% during the second quarter. Camber Capital Management LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $88,950,000 after purchasing an additional 500,000 shares during the period. Institutional investors and hedge funds own 93.37% of the company’s stock.
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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