Nektar Therapeutics’ (NKTR) “Buy” Rating Reiterated at Mizuho

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating reissued by analysts at Mizuho in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $45.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $30.00. Mizuho’s target price indicates a potential upside of 38.46% from the company’s current price.

The analysts wrote, “We believe raising our PT from $30 to $45 more accurately reflects conservative assumptions surrounding the value add of NKTR-214 within US- based NSCLC patients. Going forward, we believe NKTR-214 will remain a major value driver for the company.””

Several other equities research analysts also recently commented on the company. ValuEngine raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. William Blair reissued an “outperform” rating on shares of Nektar Therapeutics in a report on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Nektar Therapeutics in a report on Friday, July 21st. BidaskClub cut Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, Cowen and Company assumed coverage on Nektar Therapeutics in a research note on Tuesday, November 7th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $30.45.

Shares of Nektar Therapeutics (NASDAQ NKTR) opened at $32.50 on Wednesday. The company has a current ratio of 4.14, a quick ratio of 3.99 and a debt-to-equity ratio of 2.91. Nektar Therapeutics has a twelve month low of $11.41 and a twelve month high of $33.67.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.21 by $0.16. The company had revenue of $152.90 million during the quarter, compared to the consensus estimate of $126.50 million. Nektar Therapeutics had a negative return on equity of 190.68% and a negative net margin of 42.08%. The firm’s revenue for the quarter was up 321.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) EPS. equities research analysts predict that Nektar Therapeutics will post -0.78 EPS for the current fiscal year.

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In other Nektar Therapeutics news, CAO Jillian B. Thomsen sold 2,648 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.32, for a total transaction of $51,159.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen K. Doberstein sold 1,701 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.32, for a total value of $32,863.32. Following the transaction, the senior vice president now owns 31,102 shares in the company, valued at approximately $600,890.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,024,757 shares of company stock worth $25,974,361 in the last quarter. Company insiders own 5.44% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Nektar Therapeutics by 0.9% in the second quarter. BlackRock Inc. now owns 20,221,479 shares of the biopharmaceutical company’s stock worth $395,330,000 after purchasing an additional 185,933 shares during the period. Vanguard Group Inc. increased its position in shares of Nektar Therapeutics by 3.0% in the second quarter. Vanguard Group Inc. now owns 14,009,894 shares of the biopharmaceutical company’s stock worth $273,893,000 after purchasing an additional 401,914 shares during the period. State Street Corp increased its position in shares of Nektar Therapeutics by 11.3% in the second quarter. State Street Corp now owns 4,408,270 shares of the biopharmaceutical company’s stock worth $86,179,000 after purchasing an additional 447,023 shares during the period. Bank of New York Mellon Corp increased its position in shares of Nektar Therapeutics by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 2,138,632 shares of the biopharmaceutical company’s stock worth $41,812,000 after purchasing an additional 12,730 shares during the period. Finally, Northern Trust Corp increased its position in shares of Nektar Therapeutics by 7.2% in the second quarter. Northern Trust Corp now owns 1,937,352 shares of the biopharmaceutical company’s stock worth $37,877,000 after purchasing an additional 130,294 shares during the period. Institutional investors own 94.97% 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.

Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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