Nektar Therapeutics (NKTR) Given Consensus Rating of “Buy” by Analysts
Shares of Nektar Therapeutics (NASDAQ:NKTR) have earned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $23.00.
A number of analysts have recently weighed in on the company. Jefferies Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Thursday, September 8th. Zacks Investment Research upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Piper Jaffray Cos. reiterated an “overweight” rating and set a $21.00 price target (up from $17.00) on shares of Nektar Therapeutics in a research report on Friday, August 5th. Finally, Brean Capital reiterated a “buy” rating and set a $18.00 price target on shares of Nektar Therapeutics in a research report on Friday, August 5th.
Nektar Therapeutics (NASDAQ:NKTR) traded down 8.596% during mid-day trading on Tuesday, reaching $14.323. The company’s stock had a trading volume of 2,069,715 shares. The firm’s 50 day moving average price is $17.92 and its 200 day moving average price is $16.08. The firm’s market capitalization is $1.96 billion. Nektar Therapeutics has a 52 week low of $10.52 and a 52 week high of $19.98.
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Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $32.77 million for the quarter, compared to analyst estimates of $34.17 million. During the same quarter in the previous year, the company earned ($0.40) EPS. The company’s quarterly revenue was up 44.6% compared to the same quarter last year. On average, analysts anticipate that Nektar Therapeutics will post ($1.11) EPS for the current fiscal year.
In related news, CEO Howard W. Robin sold 87,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $17.06, for a total value of $1,492,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Chess sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $17.26, for a total value of $86,300.00. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its stake in Nektar Therapeutics by 1.1% in the first quarter. Primecap Management Co. CA now owns 20,010,086 shares of the biopharmaceutical company’s stock valued at $275,139,000 after buying an additional 225,800 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nektar Therapeutics by 2.7% in the second quarter. Vanguard Group Inc. now owns 11,650,468 shares of the biopharmaceutical company’s stock valued at $165,787,000 after buying an additional 301,245 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Nektar Therapeutics by 1.9% in the second quarter. BlackRock Fund Advisors now owns 10,221,478 shares of the biopharmaceutical company’s stock valued at $145,452,000 after buying an additional 192,003 shares in the last quarter. Bridger Management LLC acquired a new stake in Nektar Therapeutics during the first quarter valued at approximately $48,359,000. Finally, State Street Corp boosted its stake in Nektar Therapeutics by 4.5% in the first quarter. State Street Corp now owns 3,480,120 shares of the biopharmaceutical company’s stock valued at $47,852,000 after buying an additional 151,371 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.
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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