Investors Sell Nektar Therapeutics (NKTR) on Strength (NKTR)

Investors sold shares of Nektar Therapeutics (NASDAQ:NKTR) on strength during trading on Wednesday. $117.17 million flowed into the stock on the tick-up and $133.71 million flowed out of the stock on the tick-down, for a money net flow of $16.54 million out of the stock. Of all companies tracked, Nektar Therapeutics had the 33rd highest net out-flow for the day. Nektar Therapeutics traded up $0.87 for the day and closed at $68.90

A number of equities analysts have weighed in on NKTR shares. Mizuho started coverage on shares of Nektar Therapeutics in a report on Tuesday, September 26th. They issued a “buy” rating and a $30.00 price target on the stock. Cowen started coverage on shares of Nektar Therapeutics in a report on Tuesday, November 7th. They issued an “outperform” rating on the stock. Jefferies Group reiterated a “buy” rating and issued a $35.00 price target on shares of Nektar Therapeutics in a report on Wednesday, November 8th. Canaccord Genuity started coverage on shares of Nektar Therapeutics in a report on Thursday, November 9th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $44.00 price target on shares of Nektar Therapeutics in a report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. Nektar Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $38.08.

The company has a current ratio of 4.14, a quick ratio of 3.99 and a debt-to-equity ratio of 2.91. The company has a market capitalization of $11,340.00, a P/E ratio of -101.41 and a beta of 1.81.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.16. Nektar Therapeutics had a net margin of 39.80% and a return on equity of 557.76%. The business had revenue of $152.90 million for the quarter, compared to the consensus estimate of $126.50 million. During the same quarter last year, the firm posted ($0.32) EPS. The business’s revenue for the quarter was up 321.2% compared to the same quarter last year. analysts expect that Nektar Therapeutics will post -0.75 EPS for the current year.

In related news, CEO Howard W. Robin sold 83,334 shares of Nektar Therapeutics stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.57, for a total transaction of $1,964,182.38. Following the sale, the chief executive officer now owns 235,838 shares of the company’s stock, valued at approximately $5,558,701.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stephen K. Doberstein sold 396,323 shares of Nektar Therapeutics stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $29.00, for a total transaction 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. Insiders have sold a total of 614,017 shares of company stock worth $20,587,527 in the last ninety days. 5.44% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in NKTR. Schwab Charles Investment Management Inc. increased its stake in Nektar Therapeutics by 3.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 654,847 shares of the biopharmaceutical company’s stock worth $12,803,000 after buying an additional 21,250 shares during the period. Prudential Financial Inc. increased its stake in Nektar Therapeutics by 1.1% during the 2nd quarter. Prudential Financial Inc. now owns 265,153 shares of the biopharmaceutical company’s stock worth $5,184,000 after buying an additional 2,910 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Nektar Therapeutics by 14.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 692 shares during the period. Swiss National Bank increased its position in shares of Nektar Therapeutics by 1.5% in the 2nd quarter. Swiss National Bank now owns 255,800 shares of the biopharmaceutical company’s stock worth $5,001,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Nektar Therapeutics by 10.6% in the 2nd quarter. Alliancebernstein L.P. now owns 231,237 shares of the biopharmaceutical company’s stock worth $4,521,000 after purchasing an additional 22,100 shares during the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Investors Sell Nektar Therapeutics (NKTR) on Strength (NKTR)” was originally published by Stock Observer and is the sole property of of Stock Observer. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://www.thestockobserver.com/2018/01/13/investors-sell-nektar-therapeutics-nktr-on-strength-nktr.html.

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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply