Nektar Therapeutics (NKTR) Hits New 1-Year High Following Strong Earnings
Shares of Nektar Therapeutics (NASDAQ:NKTR) reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $102.88 and last traded at $84.55, with a volume of 2414700 shares trading hands. The stock had previously closed at $84.55.
The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.14. The business had revenue of $95.47 million during the quarter, compared to the consensus estimate of $36.96 million. Nektar Therapeutics had a negative net margin of 31.42% and a negative return on equity of 195.73%. The firm’s revenue was up 154.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.28) earnings per share.
A number of brokerages have commented on NKTR. Cowen reiterated a “buy” rating and issued a $101.00 target price on shares of Nektar Therapeutics in a report on Friday. Jefferies Group boosted their target price on shares of Nektar Therapeutics to $103.00 and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity boosted their target price on shares of Nektar Therapeutics to $94.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Mizuho reiterated a “buy” rating and issued a $89.00 target price on shares of Nektar Therapeutics in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $52.62.
Several institutional investors and hedge funds have recently bought and sold shares of NKTR. Janus Henderson Group PLC increased its holdings in shares of Nektar Therapeutics by 87.8% during the third quarter. Janus Henderson Group PLC now owns 3,329,281 shares of the biopharmaceutical company’s stock valued at $79,903,000 after acquiring an additional 1,556,352 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Nektar Therapeutics in the 4th quarter worth approximately $61,577,000. Rubric Capital Management LP acquired a new position in Nektar Therapeutics in the 3rd quarter worth approximately $23,924,000. Carillon Tower Advisers Inc. acquired a new position in Nektar Therapeutics in the 4th quarter worth approximately $43,024,000. Finally, BlackRock Inc. increased its holdings in Nektar Therapeutics by 2.1% in the 4th quarter. BlackRock Inc. now owns 21,431,388 shares of the biopharmaceutical company’s stock worth $1,279,883,000 after buying an additional 431,269 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.
The company has a quick ratio of 3.99, a current ratio of 4.14 and a debt-to-equity ratio of 2.91. The stock has a market cap of $19,710.00, a price-to-earnings ratio of -144.89 and a beta of 1.96.
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About Nektar Therapeutics
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.
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