Nektar Therapeutics (NKTR) Rating Lowered to Sell at BidaskClub
Nektar Therapeutics (NASDAQ:NKTR) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
Several other analysts have also recently issued reports on NKTR. Aegis reiterated a “buy” rating and issued a $27.00 target price on shares of Nektar Therapeutics in a research note on Wednesday, May 10th. Jefferies Group LLC lowered their target price on shares of Nektar Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, May 10th. Roth Capital set a $31.00 target price on shares of Nektar Therapeutics and gave the stock a “buy” rating in a research note on Thursday, May 11th. ValuEngine upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, William Blair restated an “outperform” rating on shares of Nektar Therapeutics in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $26.10.
Nektar Therapeutics (NASDAQ:NKTR) opened at 18.61 on Wednesday. The firm’s market capitalization is $2.91 billion. Nektar Therapeutics has a 12 month low of $11.41 and a 12 month high of $24.88. The firm’s 50-day moving average is $20.44 and its 200 day moving average is $18.70.
Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.04. Nektar Therapeutics had a negative return on equity of 1,223.34% and a negative net margin of 157.14%. The firm had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $33.64 million. During the same quarter in the prior year, the company earned ($0.36) earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts expect that Nektar Therapeutics will post ($0.94) EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This story was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://www.watchlistnews.com/nektar-therapeutics-nktr-rating-lowered-to-sell-at-bidaskclub/1516678.html.
In related news, CEO Howard W. Robin sold 91,714 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $19.26, for a total transaction of $1,766,411.64. Following the transaction, the chief executive officer now owns 152,504 shares of the company’s stock, valued at approximately $2,937,227.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Stephen K. Doberstein sold 1,701 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $19.32, for a total transaction of $32,863.32. Following the transaction, the senior vice president now directly owns 31,102 shares in the company, valued at approximately $600,890.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,629 shares of company stock worth $4,820,217. Corporate insiders own 5.44% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Nektar Therapeutics by 180,432.9% in the first quarter. BlackRock Inc. now owns 20,035,546 shares of the biopharmaceutical company’s stock valued at $470,234,000 after buying an additional 20,024,448 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Nektar Therapeutics during the second quarter valued at approximately $34,661,000. PointState Capital LP raised its position in Nektar Therapeutics by 281.7% in the second quarter. PointState Capital LP now owns 1,731,000 shares of the biopharmaceutical company’s stock valued at $33,841,000 after buying an additional 1,277,500 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Nektar Therapeutics during the first quarter valued at approximately $23,580,000. Finally, Marshall Wace North America L.P. acquired a new position in Nektar Therapeutics during the first quarter valued at approximately $23,580,000. 93.02% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Nektar Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nektar Therapeutics and related companies with Analyst Ratings Network's FREE daily email newsletter.