Nektar Therapeutics (NKTR) Rating Lowered to Buy at BidaskClub

Nektar Therapeutics (NASDAQ:NKTR) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

NKTR has been the topic of a number of other reports. Zacks Investment Research raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Canaccord Genuity Group lifted their price target on Nektar Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Cowen started coverage on Nektar Therapeutics in a research note on Tuesday, November 7th. They set an “outperform” rating on the stock. Canaccord Genuity started coverage on Nektar Therapeutics in a research note on Thursday, November 9th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Roth Capital set a $45.00 price target on Nektar Therapeutics and gave the company a “buy” rating in a research note on Monday, November 13th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Nektar Therapeutics presently has a consensus rating of “Buy” and an average target price of $46.17.

Nektar Therapeutics (NASDAQ:NKTR) traded down $0.01 during trading on Thursday, reaching $74.64. The company’s stock had a trading volume of 2,199,960 shares, compared to its average volume of 2,683,021. Nektar Therapeutics has a 1 year low of $12.50 and a 1 year high of $99.02. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.99 and a current ratio of 4.14. The company has a market capitalization of $11,753.41, a PE ratio of -103.67 and a beta of 2.04.

In other Nektar Therapeutics news, Director Christopher A. Kuebler sold 30,000 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $58.66, for a total value of $1,759,800.00. Following the completion of the sale, the director now directly owns 70,500 shares in the company, valued at $4,135,530. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Howard W. Robin sold 83,333 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $75.82, for a total value of $6,318,308.06. Following the completion of the sale, the chief executive officer now owns 333,268 shares of the company’s stock, valued at $25,268,379.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,576 shares of company stock worth $13,320,003. 6.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKTR. Meeder Asset Management Inc. bought a new stake in shares of Nektar Therapeutics during the fourth quarter valued at approximately $121,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $129,000. Mark Sheptoff Financial Planning LLC increased its holdings in shares of Nektar Therapeutics by 79.4% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $146,000 after acquiring an additional 2,700 shares in the last quarter. Flinton Capital Management LLC increased its holdings in shares of Nektar Therapeutics by 75.7% during the second quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock valued at $154,000 after acquiring an additional 3,392 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Nektar Therapeutics during the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

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About Nektar Therapeutics

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.

Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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