Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “hold” rating reiterated by equities researchers at HC Wainwright in a research report issued to clients and investors on Tuesday, AnalystRatings.com reports.
The analysts wrote, “Our new 12-month, $24, vs. our prior $47 target on shares of Nektar is based on a 12-year DCF-driven, sum-of-the-parts analysis. Our DCF is driven by beta of 1.62, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 10.0%, and tax rate of 15% beginning in FY 2027.””
NKTR has been the topic of several other research reports. JPMorgan Chase & Co. cut Nektar Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $62.00 to $33.00 in a report on Friday, August 9th. Cowen set a $82.00 target price on shares of Nektar Therapeutics and gave the company a “buy” rating in a research note on Thursday, June 13th. William Blair reissued a “buy” rating on shares of Nektar Therapeutics in a research note on Friday, August 9th. TheStreet downgraded shares of Nektar Therapeutics from a “c” rating to a “d” rating in a research note on Thursday, August 8th. Finally, BidaskClub downgraded shares of Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Nektar Therapeutics presently has an average rating of “Hold” and a consensus target price of $49.15.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.17. The company had revenue of $23.32 million for the quarter, compared to analysts’ expectations of $26.65 million. Nektar Therapeutics had a negative return on equity of 24.67% and a negative net margin of 354.90%. The firm’s revenue was down 97.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.33 earnings per share. On average, sell-side analysts predict that Nektar Therapeutics will post -2.97 earnings per share for the current year.
In other news, CEO Howard W. Robin sold 100,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $33.00, for a total value of $3,300,000.00. Following the transaction, the chief executive officer now directly owns 328,659 shares of the company’s stock, valued at $10,845,747. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Howard W. Robin sold 33,334 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $32.11, for a total transaction of $1,070,354.74. Following the completion of the transaction, the chief executive officer now directly owns 328,659 shares in the company, valued at $10,553,240.49. The disclosure for this sale can be found here. Insiders sold 226,667 shares of company stock worth $7,521,310 over the last ninety days. 4.02% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NKTR. Meeder Asset Management Inc. boosted its holdings in Nektar Therapeutics by 150.2% in the first quarter. Meeder Asset Management Inc. now owns 798 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 479 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Nektar Therapeutics in the first quarter worth $27,000. Capital Investment Advisory Services LLC boosted its holdings in Nektar Therapeutics by 1,566.7% in the second quarter. Capital Investment Advisory Services LLC now owns 1,000 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 940 shares in the last quarter. Kavar Capital Partners LLC bought a new stake in Nektar Therapeutics in the second quarter worth $44,000. Finally, Gemmer Asset Management LLC boosted its holdings in Nektar Therapeutics by 476.8% in the second quarter. Gemmer Asset Management LLC now owns 1,390 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 1,149 shares in the last quarter. 92.48% of the stock is currently owned by institutional investors and hedge funds.
Nektar Therapeutics Company Profile
Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.
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