Nektar Therapeutics (NASDAQ:NKTR) Earns “Buy” Rating from Jefferies Group LLC
Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a research note issued to investors on Friday. They presently have a $23.00 price objective on the biopharmaceutical company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 3.74% from the company’s previous close.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, March 27th. Aegis reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Nektar Therapeutics in a research report on Wednesday, May 10th. Roth Capital set a $31.00 price objective on shares of Nektar Therapeutics and gave the company a “buy” rating in a research report on Thursday, May 11th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of Nektar Therapeutics in a research report on Tuesday, April 11th. Finally, ValuEngine raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Nektar Therapeutics presently has an average rating of “Buy” and an average target price of $26.29.
Nektar Therapeutics (NKTR) traded up 1.31% during trading on Friday, hitting $22.46. 803,282 shares of the stock were exchanged. Nektar Therapeutics has a 12-month low of $11.41 and a 12-month high of $24.88. The stock has a 50 day moving average price of $19.64 and a 200-day moving average price of $17.47. The firm’s market capitalization is $3.48 billion.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.40) by $0.02. The company had revenue of $24.73 million during the quarter, compared to the consensus estimate of $29.43 million. Nektar Therapeutics had a negative net margin of 150.74% and a negative return on equity of 3,072.86%. The company’s revenue was down 58.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.14) earnings per share. On average, equities research analysts anticipate that Nektar Therapeutics will post ($1.17) earnings per share for the current fiscal year.
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In other Nektar Therapeutics news, CFO Gil M. Labrucherie sold 3,179 shares of Nektar Therapeutics stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $19.55, for a total value of $62,149.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Chess sold 5,000 shares of Nektar Therapeutics stock in a transaction on Monday, May 15th. The shares were sold at an average price of $19.79, for a total transaction of $98,950.00. Following the completion of the sale, the director now owns 276,623 shares in the company, valued at $5,474,369.17. The disclosure for this sale can be found here. Insiders sold a total of 159,803 shares of company stock worth $3,328,247 over the last quarter. Company insiders own 6.10% of the company’s stock.
Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in Nektar Therapeutics during the fourth quarter valued at $979,000. GSA Capital Partners LLP purchased a new position in Nektar Therapeutics during the fourth quarter valued at $308,000. Metropolitan Life Insurance Co. NY raised its position in Nektar Therapeutics by 9.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 101,124 shares of the biopharmaceutical company’s stock valued at $1,241,000 after buying an additional 8,935 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Nektar Therapeutics by 16.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 82,150 shares of the biopharmaceutical company’s stock valued at $1,008,000 after buying an additional 11,770 shares in the last quarter. Finally, Norges Bank purchased a new position in Nektar Therapeutics during the fourth quarter valued at $31,574,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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