Nektar Therapeutics (NKTR) Stock Rating Reaffirmed by Mizuho

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating restated by analysts at Mizuho in a report issued on Wednesday. They presently have a $89.00 price objective on the biopharmaceutical company’s stock. Mizuho’s price objective points to a potential upside of 17.63% from the stock’s previous close.

The analysts wrote, “We expect both Nektar and BMY to jointly report clinical data going forward.””

A number of other research analysts have also commented on the company. BidaskClub lowered Nektar Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 8th. Zacks Investment Research upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Jefferies Group upped their price target on Nektar Therapeutics from $2.12 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Canaccord Genuity reiterated a “buy” rating and set a $80.00 price target (up from $50.00) on shares of Nektar Therapeutics in a report on Wednesday, January 10th. Finally, Canaccord Genuity Group upped their price target on Nektar Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Nektar Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $46.17.

Shares of Nektar Therapeutics (NKTR) traded down $3.04 during mid-day trading on Wednesday, hitting $75.66. The stock had a trading volume of 1,618,800 shares, compared to its average volume of 2,774,684. Nektar Therapeutics has a one year low of $12.50 and a one year high of $99.02. The firm has a market capitalization of $13,070.00, a price-to-earnings ratio of -116.92 and a beta of 2.04. The company has a current ratio of 4.14, a quick ratio of 3.99 and a debt-to-equity ratio of 2.91.

In other news, Director Christopher A. Kuebler sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $58.66, for a total transaction of $1,759,800.00. Following the sale, the director now directly owns 70,500 shares in the company, valued at $4,135,530. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Howard W. Robin sold 83,333 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $55.69, for a total value of $4,640,814.77. Following the sale, the chief executive officer now owns 272,768 shares in the company, valued at $15,190,449.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,666 shares of company stock worth $12,718,923. 5.44% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of Nektar Therapeutics during the fourth quarter valued at approximately $121,000. SeaCrest Wealth Management LLC bought a new stake in shares of Nektar Therapeutics during the fourth quarter valued at approximately $200,000. Kovack Advisors Inc. bought a new stake in shares of Nektar Therapeutics during the fourth quarter valued at approximately $240,000. Sicart Associates LLC bought a new stake in shares of Nektar Therapeutics during the fourth quarter valued at approximately $245,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Nektar Therapeutics during the fourth quarter valued at approximately $254,000. Institutional investors and hedge funds own 96.00% of the company’s stock.

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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.

Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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