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Nektar Therapeutics (NASDAQ:NKTR) shares shot up 9.1% during mid-day trading on Friday following a better than expected earnings announcement, Analyst Ratings Net reports. The stock traded as high as $11.58 and last traded at $11.51, with a volume of 1,076,971 shares trading hands. The stock had previously closed at $10.55.

The company reported ($0.26) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.37) by $0.11. The company had revenue of $28.50 million for the quarter, compared to the consensus estimate of $19.76 million. During the same quarter last year, the company posted ($0.37) earnings per share. Nektar Therapeutics’s revenue was down 15.9% compared to the same quarter last year.

NKTR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Nektar Therapeutics from a “neutral” rating to an “underperform” rating in a research note on Friday, July 18th. They now have a $10.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Nektar Therapeutics currently has an average rating of “Buy” and a consensus target price of $15.88.

The stock has a 50-day moving average of $12.3 and a 200-day moving average of $12.38. The company’s market cap is $1.487 billion.

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

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