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.

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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.

Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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