Nektar Therapeutics (NASDAQ:NKTR) Downgraded by StockNews.com

StockNews.com downgraded shares of Nektar Therapeutics (NASDAQ:NKTR – Get Rating) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Other equities analysts have also recently issued reports about the company. Mizuho cut their price target on Nektar Therapeutics from $8.00 to $6.00 and set a neutral rating on the stock in a report on Monday, April 18th. The Goldman Sachs Group cut Nektar Therapeutics from a neutral rating to a sell rating and set a $3.00 price target on the stock. in a report on Monday, April 18th. SVB Leerink cut their price target on Nektar Therapeutics from $7.00 to $6.00 and set a market perform rating on the stock in a report on Monday, April 18th. Finally, Oppenheimer cut Nektar Therapeutics from an outperform rating to a market perform rating in a report on Wednesday, April 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $13.17.

Nektar Therapeutics Trading Up 10.4 %

Shares of NKTR stock opened at $4.88 on Wednesday. The business’s 50 day simple moving average is $3.77 and its 200 day simple moving average is $6.04. Nektar Therapeutics has a one year low of $3.02 and a one year high of $19.37.

Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.85) EPS for the quarter, beating the consensus estimate of ($1.01) by $0.16. The business had revenue of $21.59 million for the quarter, compared to analysts’ expectations of $22.75 million. Nektar Therapeutics had a negative return on equity of 75.37% and a negative net margin of 544.77%. The firm’s revenue was down 23.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.69) earnings per share. As a group, equities analysts anticipate that Nektar Therapeutics will post -2.31 EPS for the current year.

Insider Transactions at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 36,529 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $3.95, for a total value of $144,289.55. Following the completion of the sale, the chief executive officer now directly owns 620,941 shares of the company’s stock, valued at approximately $2,452,716.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Howard W. Robin sold 36,529 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $3.95, for a total value of $144,289.55. Following the completion of the sale, the chief executive officer now directly owns 620,941 shares of the company’s stock, valued at approximately $2,452,716.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Zalevsky sold 21,673 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $3.95, for a total value of $85,608.35. Following the completion of the sale, the insider now directly owns 276,399 shares of the company’s stock, valued at $1,091,776.05. The disclosure for this sale can be found here. Insiders have sold 84,627 shares of company stock valued at $334,277 over the last ninety days. 2.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nektar Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Nektar Therapeutics by 964.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,141 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 11,000 shares during the last quarter. Calton & Associates Inc. purchased a new stake in shares of Nektar Therapeutics during the 1st quarter valued at $55,000. Verition Fund Management LLC purchased a new stake in shares of Nektar Therapeutics during the 1st quarter valued at $55,000. Arete Wealth Advisors LLC purchased a new stake in shares of Nektar Therapeutics during the 1st quarter valued at $59,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Nektar Therapeutics during the 1st quarter valued at $61,000. 93.08% of the stock is owned by hedge funds and other institutional investors.

Nektar Therapeutics Company Profile

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Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.