Nektar Therapeutics (NASDAQ:NKTR) dropped 6.2% on Tuesday . The stock traded as low as $37.79 and last traded at $38.00. Approximately 2,746,889 shares changed hands during trading, a decline of 11% from the average daily volume of 3,099,401 shares. The stock had previously closed at $40.53.

NKTR has been the topic of several analyst reports. HC Wainwright set a $54.00 price target on Nektar Therapeutics and gave the company a “hold” rating in a research report on Monday, October 22nd. BidaskClub cut Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Mizuho restated a “buy” rating and issued a $103.00 price objective on shares of Nektar Therapeutics in a research report on Thursday, August 9th. Zacks Investment Research cut shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, ValuEngine cut shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $84.56.

The company has a market capitalization of $6.99 billion, a PE ratio of -69.09 and a beta of 2.81. The company has a quick ratio of 13.80, a current ratio of 13.93 and a debt-to-equity ratio of 0.14.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.07. The business had revenue of $27.80 million during the quarter, compared to analyst estimates of $26.08 million. Nektar Therapeutics had a return on equity of 79.66% and a net margin of 59.71%. Nektar Therapeutics’s revenue for the quarter was down 81.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Analysts predict that Nektar Therapeutics will post 3.66 earnings per share for the current fiscal year.

In other news, CFO Gil M. Labrucherie sold 6,515 shares of the stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $38.25, for a total transaction of $249,198.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Robert Ajer sold 6,750 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $56.76, for a total value of $383,130.00. Following the sale, the director now directly owns 15,750 shares of the company’s stock, valued at approximately $893,970. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,113 shares of company stock valued at $1,774,015. 4.31% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $123,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Nektar Therapeutics during the second quarter valued at approximately $142,000. Sterling Investment Advisors Ltd. purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $183,000. Gabelli Funds LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $213,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $219,000. 91.15% of the stock is owned by hedge funds and other institutional investors.

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Nektar Therapeutics Company Profile (NASDAQ:NKTR)

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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