Zacks Investment Research upgraded shares of Nektar Therapeutics (NASDAQ:NKTR) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning, Zacks.com reports. Zacks Investment Research currently has $30.00 target price on the biopharmaceutical company’s stock.
According to Zacks, “Nektar has a promising pipeline with several regulatory updates/data-readouts lined up for the next several quarters. Moreover, regular partnerships have enhanced the company’s financial position. The blockbuster collaboration deal with Bristol-Myers for NKTR-214 significantly boosted Nektar’s cash resources. It also has encouraging co-development deals with other pharma companies. The deals boost revenues and reduce expenses by sharing research costs. On the flip side, Nektar relies heavily on partners for revenues. Partnership-related setbacks may thus weigh heavily on the company’s results in the future. Shares of the company have underperformed the industry in the past year.”
Other equities analysts also recently issued reports about the company. William Blair reiterated a buy rating on shares of Nektar Therapeutics in a research report on Thursday, September 26th. Oppenheimer began coverage on Nektar Therapeutics in a research report on Thursday, October 24th. They set a market perform rating and a $18.00 price objective for the company. Goldman Sachs Group downgraded Nektar Therapeutics from a buy rating to a sell rating and lowered their price objective for the stock from $54.00 to $16.00 in a research report on Tuesday, October 8th. Piper Jaffray Companies lowered their price objective on Nektar Therapeutics from $50.00 to $35.00 and set an overweight rating for the company in a research report on Thursday, November 7th. Finally, BidaskClub downgraded Nektar Therapeutics from a hold rating to a sell rating in a research report on Saturday, November 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $30.43.
Nektar Therapeutics stock opened at $23.49 on Monday. The company has a current ratio of 12.60, a quick ratio of 12.49 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.92 billion, a PE ratio of 6.21 and a beta of 2.60. Nektar Therapeutics has a 12 month low of $15.64 and a 12 month high of $47.11. The stock has a 50-day moving average price of $21.79 and a two-hundred day moving average price of $22.22.
Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.17. The firm had revenue of $29.22 million during the quarter, compared to the consensus estimate of $26.42 million. Nektar Therapeutics had a negative return on equity of 26.60% and a negative net margin of 352.83%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned ($0.56) earnings per share. As a group, analysts predict that Nektar Therapeutics will post -2.56 earnings per share for the current fiscal year.
In other news, insider Jonathan Zalevsky sold 3,960 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $17.97, for a total transaction of $71,161.20. Following the completion of the transaction, the insider now directly owns 291,697 shares in the company, valued at $5,241,795.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian B. Thomsen sold 2,713 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $17.97, for a total value of $48,752.61. The disclosure for this sale can be found here. Insiders have sold 54,092 shares of company stock valued at $1,017,533 over the last 90 days. 4.02% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of NKTR. Liberty Wealth Management LLC increased its holdings in Nektar Therapeutics by 1,402.6% in the third quarter. Liberty Wealth Management LLC now owns 2,870 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 2,679 shares in the last quarter. CSat Investment Advisory L.P. increased its holdings in 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 purchasing an additional 729 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Nektar Therapeutics by 7.6% in the third quarter. Daiwa Securities Group Inc. now owns 7,820 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 550 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Nektar Therapeutics by 3,992.9% in the third quarter. Tower Research Capital LLC TRC now owns 8,677 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 8,465 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new stake in Nektar Therapeutics in the third quarter worth approximately $182,000. Institutional investors and hedge funds own 99.77% 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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