Nektar Therapeutics (NKTR) Downgraded by ValuEngine

Nektar Therapeutics (NASDAQ:NKTR) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

A number of other equities analysts also recently commented on the stock. Mizuho reissued a “buy” rating on shares of Nektar Therapeutics in a research note on Tuesday. Goldman Sachs Group started coverage on shares of Nektar Therapeutics in a research note on Thursday, December 13th. They issued a “buy” rating and a $62.00 price objective for the company. BidaskClub raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Zacks Investment Research downgraded shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Finally, Jefferies Financial Group reduced their price objective on shares of Nektar Therapeutics from $103.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $79.90.

Shares of NASDAQ:NKTR opened at $40.26 on Friday. The company has a market capitalization of $7.41 billion, a P/E ratio of -73.20 and a beta of 3.03. Nektar Therapeutics has a 52 week low of $29.22 and a 52 week high of $111.36. The company has a quick ratio of 13.80, a current ratio of 13.93 and a debt-to-equity ratio of 0.14.

In other Nektar Therapeutics news, CEO Howard W. Robin sold 108,882 shares of Nektar Therapeutics stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $42.19, for a total value of $4,593,731.58. Following the transaction, the chief executive officer now directly owns 350,924 shares of the company’s stock, valued at $14,805,483.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Nicholson sold 63,000 shares of Nektar Therapeutics stock in a transaction on Monday, January 28th. The stock was sold at an average price of $42.82, for a total transaction of $2,697,660.00. Following the completion of the transaction, the chief operating officer now directly owns 237,477 shares in the company, valued at $10,168,765.14. The disclosure for this sale can be found here. Insiders sold 241,824 shares of company stock worth $10,249,993 over the last ninety days. Corporate insiders own 4.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKTR. HighPoint Advisor Group LLC raised its position in shares of Nektar Therapeutics by 24.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 13,585 shares of the biopharmaceutical company’s stock worth $581,000 after acquiring an additional 2,690 shares during the period. APG Asset Management N.V. raised its holdings in Nektar Therapeutics by 20.3% in the 4th quarter. APG Asset Management N.V. now owns 53,300 shares of the biopharmaceutical company’s stock valued at $1,533,000 after acquiring an additional 9,000 shares during the last quarter. Kresge Foundation acquired a new stake in Nektar Therapeutics in the 4th quarter valued at about $2,014,000. Cetera Advisor Networks LLC raised its holdings in Nektar Therapeutics by 5.6% in the 4th quarter. Cetera Advisor Networks LLC now owns 9,371 shares of the biopharmaceutical company’s stock valued at $312,000 after acquiring an additional 500 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Nektar Therapeutics by 16.1% in the 4th quarter. Legal & General Group Plc now owns 406,910 shares of the biopharmaceutical company’s stock valued at $13,414,000 after acquiring an additional 56,553 shares during the last quarter. 92.18% of the stock is currently owned by institutional investors and hedge funds.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain 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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