Nektar Therapeutics (NKTR) Coverage Initiated by Analysts at Canaccord Genuity

Canaccord Genuity began coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $35.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports 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 report on Wednesday, August 23rd. Finally, Cowen and Company began coverage on Nektar Therapeutics in a report on Tuesday, November 7th. They issued an outperform rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $31.82.

Shares of Nektar Therapeutics (NKTR) traded up $0.76 during mid-day trading on Thursday, hitting $32.50. The stock had a trading volume of 3,070,400 shares, compared to its average volume of 1,508,119. The company has a quick ratio of 3.99, a current ratio of 4.14 and a debt-to-equity ratio of 2.91. Nektar Therapeutics has a fifty-two week low of $11.41 and a fifty-two week high of $33.67.

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

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In other Nektar Therapeutics news, SVP Stephen K. Doberstein sold 396,323 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $29.00, for a total transaction of $11,493,367.00. Following the completion of the transaction, the senior vice president now owns 52,016 shares of the company’s stock, valued at $1,508,464. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stephen K. Doberstein sold 1,701 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $19.32, for a total value of $32,863.32. Following the transaction, the senior vice president now directly owns 31,102 shares of the company’s stock, valued at approximately $600,890.64. The disclosure for this sale can be found here. Insiders sold a total of 1,024,757 shares of company stock valued at $25,974,361 in the last ninety days. 5.44% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in NKTR. Teachers Advisors LLC raised its holdings in shares of Nektar Therapeutics by 103.8% during the first quarter. Teachers Advisors LLC now owns 663,324 shares of the biopharmaceutical company’s stock valued at $15,568,000 after acquiring an additional 337,868 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Nektar Therapeutics by 9.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 633,597 shares of the biopharmaceutical company’s stock valued at $14,871,000 after acquiring an additional 56,784 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Nektar Therapeutics by 100.0% during the first quarter. Bank of America Corp DE now owns 276,642 shares of the biopharmaceutical company’s stock valued at $6,493,000 after acquiring an additional 138,330 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Nektar Therapeutics by 10.4% during the first quarter. HighTower Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock valued at $391,000 after acquiring an additional 1,569 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Nektar Therapeutics by 34.0% during the first quarter. Goldman Sachs Group Inc. now owns 643,437 shares of the biopharmaceutical company’s stock valued at $15,101,000 after acquiring an additional 163,398 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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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