Nektar Therapeutics (NKTR) Given Average Rating of “Buy” by Analysts

Nektar Therapeutics (NASDAQ:NKTR) has been given an average recommendation of “Buy” by the sixteen brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $36.64.

Several research firms have weighed in on NKTR. Canaccord Genuity Group boosted their price target on shares of Nektar Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Cowen began coverage on shares of Nektar Therapeutics in a research note on Tuesday, November 7th. They issued an “outperform” rating for the company. Canaccord Genuity began coverage on shares of Nektar Therapeutics in a research note on Thursday, November 9th. They issued a “buy” rating and a $35.00 price target for the company. Roth Capital set a $45.00 price target on shares of Nektar Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Mizuho reissued a “buy” rating and issued a $45.00 price target (up from $30.00) on shares of Nektar Therapeutics in a research note on Wednesday, November 8th.

In other news, CEO Howard W. Robin sold 83,333 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $24.20, for a total transaction of $2,016,658.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephen K. Doberstein sold 43,677 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $24.97, for a total transaction of $1,090,614.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 711,027 shares of company stock valued at $21,935,000. Insiders own 5.44% of the company’s stock.

Several large investors have recently modified their holdings of NKTR. Janus Henderson Group PLC bought a new position in shares of Nektar Therapeutics during the second quarter valued at about $34,661,000. PointState Capital LP raised its stake in shares of Nektar Therapeutics by 281.7% during the second quarter. PointState Capital LP now owns 1,731,000 shares of the biopharmaceutical company’s stock valued at $33,841,000 after acquiring an additional 1,277,500 shares during the last quarter. Rubric Capital Management LP bought a new position in shares of Nektar Therapeutics during the third quarter valued at about $23,924,000. State Street Corp increased its position in shares of Nektar Therapeutics by 11.3% during the second quarter. State Street Corp now owns 4,408,270 shares of the biopharmaceutical company’s stock valued at $86,179,000 after buying an additional 447,023 shares during the period. Finally, Numeric Investors LLC increased its position in shares of Nektar Therapeutics by 2,111.5% during the second quarter. Numeric Investors LLC now owns 440,729 shares of the biopharmaceutical company’s stock valued at $8,616,000 after buying an additional 420,800 shares during the period. 96.01% of the stock is owned by hedge funds and other institutional investors.

Nektar Therapeutics (NASDAQ NKTR) opened at $59.72 on Tuesday. Nektar Therapeutics has a 1 year low of $11.41 and a 1 year high of $61.88. The stock has a market cap of $9,403.97, a price-to-earnings ratio of -82.94 and a beta of 1.81. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.14 and a quick ratio of 3.99.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.16. The business had revenue of $152.90 million during the quarter, compared to the consensus estimate of $126.50 million. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The firm’s revenue for the quarter was up 321.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) earnings per share. analysts predict that Nektar Therapeutics will post -0.75 EPS for the current fiscal year.

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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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