Nektar Therapeutics (NASDAQ:NKTR – Get Free Report) posted its earnings results on Thursday. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, beating the consensus estimate of ($1.97) by $0.74, FiscalAI reports. The company had revenue of $10.13 million for the quarter, compared to analyst estimates of $10.43 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.
Nektar Therapeutics Stock Down 0.1%
NKTR stock traded down $0.11 during mid-day trading on Thursday, reaching $75.92. 626,722 shares of the stock traded hands, compared to its average volume of 1,047,631. The firm has a market capitalization of $2.57 billion, a PE ratio of -9.02 and a beta of 1.14. The business has a 50-day moving average of $67.33 and a two-hundred day moving average of $68.75. Nektar Therapeutics has a 52 week low of $25.01 and a 52 week high of $109.00.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. BTIG Research increased their price objective on Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a report on Monday, April 20th. Wedbush reduced their target price on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Citigroup upped their target price on Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. HC Wainwright increased their price target on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.00.
Insider Transactions at Nektar Therapeutics
In related news, CEO Howard W. Robin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the sale, the chief executive officer owned 65,045 shares in the company, valued at $3,923,514.40. This represents a 13.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Zalevsky sold 5,681 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the sale, the insider directly owned 9,756 shares in the company, valued at $682,920. This trade represents a 36.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,862 shares of company stock worth $1,379,205 over the last quarter. 2.50% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of NKTR. BNP Paribas Financial Markets boosted its holdings in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Nektar Therapeutics by 0.8% during the 4th quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company’s stock worth $3,837,000 after buying an additional 743 shares during the period. XTX Topco Ltd lifted its position in shares of Nektar Therapeutics by 22.0% during the 4th quarter. XTX Topco Ltd now owns 7,196 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 1,299 shares during the period. Quarry LP acquired a new stake in Nektar Therapeutics in the 4th quarter valued at $85,000. Finally, Headlands Technologies LLC acquired a new stake in Nektar Therapeutics in the 2nd quarter valued at $65,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.
About Nektar Therapeutics
Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.
Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.
Featured Stories
- Five stocks we like better than Nektar Therapeutics
- Asian Market Circuit Breakers Hit Stocks, Not AI Demand
- Riot Platforms Re-Wires the Ledger for a $9B AI Power Play
- Nebius Just Exploded 34% on Blowout Earnings—Is It Time to Buy?
- Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal
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.
