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

A number of other brokerages also recently weighed in on NKTR. HC Wainwright initiated coverage on Nektar Therapeutics in a report on Monday, August 7th. They issued a buy rating and a $31.00 target price on the stock. BidaskClub raised Nektar Therapeutics from a sell rating to a hold rating in a report on Thursday, August 17th. Jefferies Group LLC reissued a buy rating and set a $35.00 price objective on shares of Nektar Therapeutics in a report on Wednesday. Mizuho assumed coverage on Nektar Therapeutics in a report on Tuesday, September 26th. They set a buy rating and a $30.00 price objective on the stock. Finally, ValuEngine raised Nektar Therapeutics from a sell rating to a hold rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $28.64.

Shares of Nektar Therapeutics (NASDAQ:NKTR) traded up $0.76 during mid-day trading on Thursday, hitting $32.50. The company’s stock had a trading volume of 3,070,400 shares, compared to its average volume of 1,616,181. Nektar Therapeutics has a 52-week low of $11.41 and a 52-week high of $33.67. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.82 and a current ratio of 4.14.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.16. The firm had revenue of $152.90 million for the quarter, compared to the consensus estimate 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 was up 321.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.32) EPS. analysts forecast that Nektar Therapeutics will post -0.78 earnings per share for the current year.

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In other Nektar Therapeutics news, CAO Jillian B. Thomsen sold 2,648 shares of Nektar Therapeutics stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $19.32, for a total transaction of $51,159.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Howard W. Robin sold 91,714 shares of Nektar Therapeutics stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $19.26, for a total value of $1,766,411.64. Following the transaction, the chief executive officer now directly owns 152,504 shares in the company, valued at $2,937,227.04. The disclosure for this sale can be found here. Insiders have sold a total of 1,024,757 shares of company stock worth $25,974,361 over the last ninety days. Company insiders own 6.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in NKTR. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Nektar Therapeutics by 14.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 692 shares during the period. LS Investment Advisors LLC lifted its holdings in Nektar Therapeutics by 8.8% during the 2nd quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 535 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in Nektar Therapeutics by 79.4% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 6,100 shares of the biopharmaceutical company’s stock worth $146,000 after buying an additional 2,700 shares during the period. Flinton Capital Management LLC lifted its holdings in Nektar Therapeutics by 75.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 3,392 shares during the period. Finally, Riverhead Capital Management LLC lifted its holdings in Nektar Therapeutics by 78.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,754 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 3,854 shares during the period. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Nektar Therapeutics Company Profile

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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