Nektar Therapeutics (NKTR) Upgraded at Zacks Investment Research
Nektar Therapeutics (NASDAQ:NKTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Nektar, a biopharmaceutical company, is focused on the development of drugs utilizing PEGylation and advanced polymer conjugate technology platforms. The company received a huge boost when Movantik became the first oral PAMORA to gain approval in both the U.S. and the EU. Nektar stands to receive significant sales milestone and royalty opportunity for Movantik under the AstraZeneca license agreement, which is expected to boost its financial position significantly. Moreover, if Nektar’s other partnered programs are successful, they could contribute to the company’s royalty streams as early as 2017. Nektar also has a robust pipeline. However, the company relies heavily on its partners for top-line growth. Stiff competition is another concern. It has several pipeline-related updates coming up over the next several quarters, which could act as catalyst. Any hiccup could pull down the stock significantly.”
Other analysts also recently issued reports about the company. Brean Capital restated a “buy” rating and issued a $18.00 price target on shares of Nektar Therapeutics in a research note on Friday, August 5th. Jefferies Group restated a “buy” rating on shares of Nektar Therapeutics in a research note on Thursday, September 8th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $21.00 price target (up from $17.00) on shares of Nektar Therapeutics in a research note on Friday, August 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Nektar Therapeutics currently has a consensus rating of “Buy” and an average price target of $19.50.
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Nektar Therapeutics (NASDAQ:NKTR) traded down 1.32% on Wednesday, reaching $18.72. The company had a trading volume of 411,299 shares. The company’s market capitalization is $2.56 billion. Nektar Therapeutics has a 52-week low of $9.92 and a 52-week high of $19.98. The company’s 50-day moving average is $18.04 and its 200-day moving average is $15.47.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.03. Nektar Therapeutics had a negative net margin of 68.30% and a negative return on equity of 8,769.15%. The business earned $32.77 million during the quarter, compared to analysts’ expectations of $34.17 million. During the same quarter last year, the firm earned ($0.40) earnings per share. The firm’s quarterly revenue was up 44.6% compared to the same quarter last year. Equities analysts anticipate that Nektar Therapeutics will post ($1.11) EPS for the current fiscal year.
In other news, Director Robert Chess sold 12,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $19.21, for a total value of $230,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher A. Kuebler sold 7,500 shares of the business’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $19.13, for a total value of $143,475.00. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. boosted its position in Nektar Therapeutics by 35.0% in the second quarter. Fortaleza Asset Management Inc. now owns 8,105 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 2,100 shares during the period. BlackRock Inc. boosted its position in Nektar Therapeutics by 74.8% in the first quarter. BlackRock Inc. now owns 9,013 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 3,858 shares during the period. Cubist Systematic Strategies LLC boosted its position in Nektar Therapeutics by 500.7% in the second quarter. Cubist Systematic Strategies LLC now owns 11,911 shares of the biopharmaceutical company’s stock worth $169,000 after buying an additional 9,928 shares during the period. Genesee Valley Trust Co. boosted its position in Nektar Therapeutics by 5.7% in the second quarter. Genesee Valley Trust Co. now owns 12,135 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 650 shares during the period. Finally, HBK Investments L P bought a new position in Nektar Therapeutics during the first quarter worth $178,000. 96.91% of the stock is owned by institutional investors.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.
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