Nektar Therapeutics (NASDAQ:NKTR) had its price target trimmed by Piper Jaffray Companies from $50.00 to $35.00 in a report published on Thursday, The Fly reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock. Piper Jaffray Companies also issued estimates for Nektar Therapeutics’ Q1 2021 earnings at ($0.65) EPS, Q2 2021 earnings at ($0.70) EPS and Q3 2021 earnings at ($0.70) EPS.
A number of other equities analysts have also issued reports on NKTR. BidaskClub lowered Nektar Therapeutics from a sell rating to a strong sell rating in a report on Tuesday, July 16th. TheStreet lowered Nektar Therapeutics from a c rating to a d rating in a report on Thursday, August 8th. ValuEngine raised Nektar Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered Nektar Therapeutics from an overweight rating to a neutral rating and lowered their price target for the stock from $62.00 to $33.00 in a report on Friday, August 9th. Finally, Cfra set a $35.00 price objective on Nektar Therapeutics and gave the company a hold rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $34.57.
NASDAQ:NKTR traded up $1.34 during trading hours on Thursday, reaching $20.04. 3,963,600 shares of the stock were exchanged, compared to its average volume of 2,359,833. Nektar Therapeutics has a twelve month low of $15.64 and a twelve month high of $47.11. The company has a quick ratio of 13.97, a current ratio of 14.09 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 5.30 and a beta of 2.62. The business has a 50-day moving average of $17.90 and a two-hundred day moving average of $26.15.
Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.17. The company had revenue of $29.22 million for the quarter, compared to analyst estimates of $26.42 million. Nektar Therapeutics had a negative return on equity of 25.25% and a negative net margin of 354.90%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.56) earnings per share. On average, research analysts forecast that Nektar Therapeutics will post -2.85 EPS for the current fiscal year.
In other news, Director Robert Chess sold 4,000 shares of Nektar Therapeutics stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $17.99, for a total transaction of $71,960.00. Following the completion of the sale, the director now directly owns 276,973 shares in the company, valued at approximately $4,982,744.27. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Stephen K. Doberstein purchased 15,000 shares of Nektar Therapeutics stock in a transaction dated Thursday, September 5th. The shares were bought at an average price of $17.28 per share, with a total value of $259,200.00. Following the completion of the transaction, the senior vice president now owns 107,668 shares in the company, valued at approximately $1,860,503.04. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 169,328 shares of company stock valued at $3,587,957. Insiders own 4.02% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Aperio Group LLC raised its position in shares of Nektar Therapeutics by 8.3% during the 2nd quarter. Aperio Group LLC now owns 44,069 shares of the biopharmaceutical company’s stock worth $1,567,000 after purchasing an additional 3,360 shares during the last quarter. Financial Advisors Network Inc. grew its stake in Nektar Therapeutics by 10.7% in the 2nd quarter. Financial Advisors Network Inc. now owns 32,582 shares of the biopharmaceutical company’s stock worth $938,000 after acquiring an additional 3,154 shares during the period. Atria Investments LLC purchased a new stake in Nektar Therapeutics in the 2nd quarter worth approximately $240,000. Bank of New York Mellon Corp grew its stake in Nektar Therapeutics by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,479,386 shares of the biopharmaceutical company’s stock worth $52,637,000 after acquiring an additional 35,176 shares during the period. Finally, Bank of Montreal Can grew its stake in Nektar Therapeutics by 12.1% in the 2nd quarter. Bank of Montreal Can now owns 177,727 shares of the biopharmaceutical company’s stock worth $6,323,000 after acquiring an additional 19,184 shares during the period. Institutional investors own 93.37% of the company’s stock.
About Nektar Therapeutics
Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.
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