ClariVest Asset Management LLC raised its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 41.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,359 shares of the biopharmaceutical company’s stock after acquiring an additional 20,100 shares during the period. ClariVest Asset Management LLC’s holdings in Nektar Therapeutics were worth $7,264,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in NKTR. Eagle Asset Management Inc. bought a new stake in Nektar Therapeutics during the fourth quarter valued at about $61,577,000. Carillon Tower Advisers Inc. acquired a new position in shares of Nektar Therapeutics during the fourth quarter valued at about $43,024,000. Frontier Capital Management Co. LLC acquired a new position in shares of Nektar Therapeutics during the first quarter valued at about $71,838,000. BlackRock Inc. raised its position in shares of Nektar Therapeutics by 2.1% during the fourth quarter. BlackRock Inc. now owns 21,431,388 shares of the biopharmaceutical company’s stock valued at $1,279,883,000 after buying an additional 431,269 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Nektar Therapeutics by 44.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,158,240 shares of the biopharmaceutical company’s stock valued at $123,075,000 after buying an additional 355,766 shares during the last quarter. Institutional investors own 90.15% of the company’s stock.
In related news, CEO Howard W. Robin sold 130,000 shares of the stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $84.05, for a total value of $10,926,500.00. Following the completion of the transaction, the chief executive officer now owns 280,481 shares of the company’s stock, valued at $23,574,428.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher A. Kuebler sold 40,000 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $97.60, for a total transaction of $3,904,000.00. Following the completion of the transaction, the director now directly owns 43,100 shares of the company’s stock, valued at approximately $4,206,560. The disclosure for this sale can be found here. Insiders sold 797,359 shares of company stock valued at $73,089,550 in the last three months. Company insiders own 6.10% of the company’s stock.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.08). Nektar Therapeutics had a negative return on equity of 202.41% and a negative net margin of 40.07%. The business had revenue of $38.02 million during the quarter, compared to analyst estimates of $35.59 million. During the same period last year, the company earned ($0.42) EPS. The business’s revenue for the quarter was up 53.7% on a year-over-year basis. equities analysts predict that Nektar Therapeutics will post 2.58 EPS for the current fiscal year.
A number of research analysts have recently commented on the stock. BidaskClub raised shares of Nektar Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 21st. HC Wainwright reaffirmed a “buy” rating and set a $125.00 price objective on shares of Nektar Therapeutics in a research report on Monday, April 2nd. Mizuho set a $89.00 price objective on shares of Nektar Therapeutics and gave the company a “buy” rating in a research report on Thursday, March 29th. Piper Jaffray assumed coverage on shares of Nektar Therapeutics in a research report on Friday, April 13th. They set an “overweight” rating and a $125.00 price objective for the company. Finally, Cowen reaffirmed a “buy” rating and set a $101.00 price objective on shares of Nektar Therapeutics in a research report on Friday, March 2nd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Nektar Therapeutics currently has an average rating of “Buy” and an average price target of $79.50.
Nektar Therapeutics Profile
Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain based on its PEGylation and polymer conjugate technology platforms in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.
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