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Nektar Therapeutics (NASDAQ:NKTR) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Friday. They currently have a $10.00 target price on the stock. Zacks‘s price target points to a potential downside of 9.58% from the stock’s previous close.

Zacks’ analyst wrote, “Nektar reported a loss of $0.37 per share in the first quarter of 2014, narrower than the year-ago loss of $0.48 but wider than the Zacks Consensus Estimate of a loss of $0.35. The wider than expected loss was due to the lower than expected revenues. Nektar is highly dependent on its pipeline. Any hiccup in the development process will weigh heavily on the stock. Moreover, most of the company’s pipeline programs are in association with partners. The dependence on partners is not a risk free strategy. We advise long-term investors to avoid the stock, given the challenges facing the company. Consequently, we are initiating coverage on the stock with an underperform recommendation.”

Shares of Nektar Therapeutics (NASDAQ:NKTR) traded up 0.05% during mid-day trading on Friday, hitting $11.065. 1,267,682 shares of the company’s stock traded hands. Nektar Therapeutics has a one year low of $8.87 and a one year high of $15.34. The stock has a 50-day moving average of $12.50 and a 200-day moving average of $12.46. The company’s market cap is $1.405 billion.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings data on Wednesday, May 7th. The company reported ($0.37) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.19) by $0.18. The company had revenue of $19.80 million for the quarter, compared to the consensus estimate of $38.68 million. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, analysts predict that Nektar Therapeutics will post $-0.65 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Ladenburg Thalmann initiated coverage on shares of Nektar Therapeutics in a research note on Thursday, June 26th. They set a “buy” rating and a $20.00 price target on the stock. Separately, analysts at MKM Partners reiterated a “neutral” rating on shares of Nektar Therapeutics in a research note on Friday, June 13th. They now have a $13.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research note on Thursday, May 15th. They now have a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.88.

Nektar Therapeutics is a clinical-stage biopharmaceutical company which develops a pipeline of drug candidates that utilize company platforms.

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