Zacks Investment Research cut shares of Nektar Therapeutics (NASDAQ:NKTR) from a hold rating to a sell rating in a report published on Tuesday.
According to Zacks, “Nektar relies heavily on partners for revenues. Partnership-related setbacks may thus weigh heavily on the company, while disappointing products sales could leave an adverse impact on its financial results. Moreover, competition from various pharmaceutical and biotechnology companies is another matter of concern. Also, gaining approval for pipeline candidates has become more difficult with an increasingly stringent regulatory environment. However, regular partnerships have enhanced the company’s financial position. Nektar stands to receive significant sales milestone payment plus royalties for Movantik under the license agreement with AstraZeneca. Also, its recent co-development deal with Lilly for NKTR-358 is encouraging. Shares of the company have outperformed the industry in the last one year.”
A number of other equities research analysts also recently weighed in on NKTR. Mizuho assumed coverage on Nektar Therapeutics in a report on Tuesday, September 26th. They issued a buy rating and a $30.00 target price on the stock. Roth Capital set a $45.00 target price on Nektar Therapeutics and gave the company a buy rating in a report on Monday, November 13th. Canaccord Genuity raised their target price on Nektar Therapeutics from $35.00 to $50.00 and gave the company a buy rating in a report on Monday, November 13th. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $44.00 target price on shares of Nektar Therapeutics in a report on Monday, November 13th. Finally, Jefferies Group reaffirmed a buy rating and issued a $35.00 target price on shares of Nektar Therapeutics in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $38.08.
Shares of Nektar Therapeutics (NKTR) traded up $2.12 during mid-day trading on Tuesday, hitting $72.00. The company’s stock had a trading volume of 1,904,300 shares, compared to its average volume of 2,717,111. The firm has a market cap of $11,340.00, a P/E ratio of -101.41 and a beta of 1.81. Nektar Therapeutics has a 52-week low of $11.41 and a 52-week high of $73.95. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.99 and a current ratio of 4.14.
Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.16. The firm had revenue of $152.90 million for the quarter, compared to the consensus estimate of $126.50 million. Nektar Therapeutics had a return on equity of 557.76% and a net margin of 39.80%. The company’s revenue was up 321.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.32) EPS. analysts expect that Nektar Therapeutics will post -0.75 EPS for the current fiscal year.
In related news, SVP Maninder Hora sold 5,117 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $25.07, for a total transaction of $128,283.19. Following the sale, the senior vice president now owns 52,016 shares of the company’s stock, valued at approximately $1,304,041.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Stephen K. Doberstein sold 396,323 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $29.00, for a total value of $11,493,367.00. Following the sale, the senior vice president now directly owns 52,016 shares in the company, valued at approximately $1,508,464. The disclosure for this sale can be found here. In the last three months, insiders have sold 614,017 shares of company stock worth $20,587,527. 5.44% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Nektar Therapeutics by 14.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock valued at $110,000 after acquiring an additional 692 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Nektar Therapeutics by 7.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,011 shares of the biopharmaceutical company’s stock valued at $254,000 after acquiring an additional 929 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Nektar Therapeutics by 8.7% during the 2nd quarter. Amalgamated Bank now owns 20,563 shares of the biopharmaceutical company’s stock valued at $402,000 after acquiring an additional 1,644 shares in the last quarter. Shelton Capital Management boosted its holdings in shares of Nektar Therapeutics by 12.5% during the 2nd quarter. Shelton Capital Management now owns 15,283 shares of the biopharmaceutical company’s stock valued at $299,000 after acquiring an additional 1,696 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Nektar Therapeutics by 16.3% during the 3rd quarter. Strs Ohio now owns 16,400 shares of the biopharmaceutical company’s stock valued at $393,000 after acquiring an additional 2,300 shares in the last quarter. 96.01% of the stock is currently owned by institutional investors.
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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.
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