Eagle Asset Management Inc. cut its stake in Nektar Therapeutics (NASDAQ:NKTR) by 20.3% in the second quarter, HoldingsChannel.com reports. The firm owned 804,760 shares of the biopharmaceutical company’s stock after selling 204,841 shares during the quarter. Eagle Asset Management Inc.’s holdings in Nektar Therapeutics were worth $39,296,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in Nektar Therapeutics by 38.5% in the first quarter. Northern Trust Corp now owns 2,605,818 shares of the biopharmaceutical company’s stock valued at $276,893,000 after purchasing an additional 723,967 shares during the period. Summit Trail Advisors LLC boosted its holdings in Nektar Therapeutics by 3,355.7% in the first quarter. Summit Trail Advisors LLC now owns 1,244,272 shares of the biopharmaceutical company’s stock valued at $1,244,000 after purchasing an additional 1,208,266 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Nektar Therapeutics by 44.3% in 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 purchasing an additional 355,766 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in Nektar Therapeutics by 61.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,092,395 shares of the biopharmaceutical company’s stock worth $53,342,000 after buying an additional 416,337 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Nektar Therapeutics by 2.4% during the 2nd quarter. First Trust Advisors LP now owns 749,124 shares of the biopharmaceutical company’s stock worth $36,580,000 after buying an additional 17,242 shares during the last quarter. Hedge funds and other institutional investors own 91.73% of the company’s stock.

Shares of NASDAQ NKTR opened at $60.03 on Friday. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of -109.15 and a beta of 2.08. The company has a quick ratio of 19.55, a current ratio of 19.67 and a debt-to-equity ratio of 0.13. Nektar Therapeutics has a 1 year low of $17.51 and a 1 year high of $111.36.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Wednesday, August 8th. The biopharmaceutical company reported $5.33 EPS for the quarter, topping the Zacks’ consensus estimate of $5.22 by $0.11. Nektar Therapeutics had a return on equity of 174.70% and a net margin of 65.69%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. The business’s revenue was up 3043.7% compared to the same quarter last year. equities research analysts expect that Nektar Therapeutics will post 3.41 EPS for the current fiscal year.

In other news, Director Dennis L. Winger sold 34,250 shares of Nektar Therapeutics stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $60.60, for a total transaction of $2,075,550.00. Following the sale, the director now owns 59,875 shares in the company, valued at $3,628,425. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 43,334 shares of Nektar Therapeutics stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $51.82, for a total value of $2,245,567.88. Following the sale, the chief executive officer now owns 267,690 shares in the company, valued at approximately $13,871,695.80. The disclosure for this sale can be found here. Insiders have sold 218,984 shares of company stock worth $11,448,304 in the last quarter. Insiders own 4.31% of the company’s stock.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Nektar Therapeutics from $90.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, June 4th. HC Wainwright decreased their price target on Nektar Therapeutics to $97.00 and set a “buy” rating for the company in a report on Monday, June 4th. ValuEngine raised Nektar Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. BidaskClub downgraded Nektar Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. Finally, Piper Jaffray Companies set a $125.00 price target on Nektar Therapeutics and gave the stock a “buy” rating in a report on Thursday, April 26th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $82.91.

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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Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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