Nektar Therapeutics (NASDAQ:NKTR) had its price target cut by research analysts at Piper Jaffray Companies from $50.00 to $35.00 in a report issued on Thursday, November 7th, The Fly reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 78.12% from the company’s current price. Piper Jaffray Companies also issued estimates for Nektar Therapeutics’ Q1 2021 earnings at ($0.65) EPS, Q2 2021 earnings at ($0.70) EPS and Q3 2021 earnings at ($0.70) EPS.
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A number of other research analysts also recently issued reports on NKTR. ValuEngine raised shares of Nektar Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. BidaskClub cut shares of Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 16th. BMO Capital Markets decreased their price objective on shares of Nektar Therapeutics from $75.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. cut shares of Nektar Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $62.00 to $33.00 in a research note on Friday, August 9th. Finally, TheStreet cut shares of Nektar Therapeutics from a “c” rating to a “d” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Nektar Therapeutics has an average rating of “Hold” and a consensus target price of $29.64.
NKTR traded up $0.22 during midday trading on Thursday, reaching $19.65. The company’s stock had a trading volume of 1,965,400 shares, compared to its average volume of 2,748,786. The stock’s 50-day moving average is $17.93 and its 200-day moving average is $25.80. The company has a current ratio of 12.60, a quick ratio of 12.49 and a debt-to-equity ratio of 0.26. Nektar Therapeutics has a 1 year low of $15.64 and a 1 year high of $47.11. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 5.20 and a beta of 2.62.
Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.17. Nektar Therapeutics had a negative net margin of 352.83% and a negative return on equity of 26.60%. The firm had revenue of $29.22 million for the quarter, compared to the consensus estimate of $26.42 million. During the same quarter in the previous year, the firm earned ($0.56) EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Nektar Therapeutics will post -2.56 earnings per share for the current fiscal year.
In other Nektar Therapeutics news, CFO Gil M. Labrucherie sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $20.52, for a total transaction of $513,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Katharina Otto-Bernstein sold 29,127 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $36.72, for a total transaction of $1,069,543.44. Over the last quarter, insiders sold 146,086 shares of company stock valued at $3,216,114. Company insiders own 4.02% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Invesco Ltd. grew its holdings in shares of Nektar Therapeutics by 1,057.7% in the second quarter. Invesco Ltd. now owns 23,343,019 shares of the biopharmaceutical company’s stock valued at $830,544,000 after purchasing an additional 21,326,731 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Nektar Therapeutics in the second quarter valued at about $33,330,000. First Trust Advisors LP grew its holdings in shares of Nektar Therapeutics by 39.9% in the second quarter. First Trust Advisors LP now owns 3,005,999 shares of the biopharmaceutical company’s stock valued at $106,953,000 after purchasing an additional 856,819 shares during the period. BlackRock Inc. grew its holdings in shares of Nektar Therapeutics by 6.0% in the second quarter. BlackRock Inc. now owns 13,264,987 shares of the biopharmaceutical company’s stock valued at $471,969,000 after purchasing an additional 749,644 shares during the period. Finally, Camber Capital Management LP grew its holdings in shares of Nektar Therapeutics by 25.0% in the second quarter. Camber Capital Management LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $88,950,000 after purchasing an additional 500,000 shares during the period. Institutional investors own 93.26% of the company’s stock.
About Nektar Therapeutics
Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.
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