Nektar Therapeutics (NASDAQ:NKTR) was up 0% on Tuesday following a stronger than expected earnings report. The stock traded as high as $27.40 and last traded at $26.84. Approximately 2,766,610 shares traded hands during mid-day trading, an increase of 153% from the average daily volume of 1,091,820 shares. The stock had previously closed at $26.84.

The biopharmaceutical company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. Nektar Therapeutics had a negative net margin of 157.14% and a negative return on equity of 1,223.34%. The company had revenue of $152.90 million for the quarter, compared to analysts’ expectations of $126.50 million. During the same quarter in the previous year, the company earned ($0.32) EPS. Nektar Therapeutics’s revenue for the quarter was up 321.2% on a year-over-year basis.

A number of research firms recently weighed in on NKTR. Jefferies Group LLC restated a “buy” rating and set a $23.00 target price on shares of Nektar Therapeutics in a research note on Friday, August 18th. BidaskClub upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. HC Wainwright assumed coverage on shares of Nektar Therapeutics in a research report on Monday, August 7th. They set a “buy” rating and a $31.00 target price on the stock. Zacks Investment Research cut shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, William Blair restated an “outperform” rating on shares of Nektar Therapeutics in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Nektar Therapeutics presently has a consensus rating of “Buy” and an average target price of $26.80.

In other Nektar Therapeutics news, Director Christopher A. Kuebler sold 4,000 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $21.86, for a total value of $87,440.00. Following the completion of the transaction, the director now owns 40,500 shares of the company’s stock, valued at $885,330. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Stephen K. Doberstein sold 1,701 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.32, for a total transaction of $32,863.32. Following the completion of the transaction, the senior vice president now directly owns 31,102 shares of the company’s stock, valued at approximately $600,890.64. The disclosure for this sale can be found here. Insiders sold a total of 623,317 shares of company stock valued at $14,352,710 in the last ninety days. Corporate insiders own 5.44% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NKTR. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Nektar Therapeutics by 14.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 692 shares during the period. LS Investment Advisors LLC increased its stake in shares of Nektar Therapeutics by 8.8% in the second quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock worth $129,000 after acquiring an additional 535 shares during the period. Flinton Capital Management LLC increased its stake in shares of Nektar Therapeutics by 75.7% in the second quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock worth $154,000 after acquiring an additional 3,392 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Nektar Therapeutics by 78.7% in the second quarter. Riverhead Capital Management LLC now owns 8,754 shares of the biopharmaceutical company’s stock worth $171,000 after acquiring an additional 3,854 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Nektar Therapeutics by 5.6% in the second quarter. World Asset Management Inc now owns 10,167 shares of the biopharmaceutical company’s stock worth $199,000 after acquiring an additional 539 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

The company has a current ratio of 3.97, a quick ratio of 3.82 and a debt-to-equity ratio of 72.60.

TRADEMARK VIOLATION NOTICE: “Nektar Therapeutics (NKTR) Trading Up 0% After Better-Than-Expected Earnings” was first posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://www.watchlistnews.com/nektar-therapeutics-nktr-trading-up-0-after-better-than-expected-earnings/1686337.html.

Nektar Therapeutics Company Profile

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.