According to Zacks, “Nektar, a biopharmaceutical company, is focused on the development of drugs utilizing PEGylation and advanced polymer conjugate technology platforms. The company received a huge boost when Movantik became the first oral PAMORA to gain approval in both the U.S. and the EU. Nektar stands to receive significant sales milestone and royalty opportunity for Movantik under the AstraZeneca license agreement, which is expected to boost its financial position significantly. Moreover, if Nektar’s other partnered programs are successful, they could contribute to the company’s royalty streams as early as 2017. Nektar also has a robust pipeline. However, the company relies heavily on its partners for top-line growth. Stiff competition is another concern. It has several pipeline-related updates coming up over the next several quarters, which could act as catalyst. Any hiccup could pull down the stock significantly.”
Several other research analysts have also weighed in on NKTR. Jefferies Group reaffirmed a buy rating on shares of Nektar Therapeutics in a research report on Thursday, September 8th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $21.00 price target (up previously from $17.00) on shares of Nektar Therapeutics in a research report on Friday, August 5th. Finally, Brean Capital reaffirmed a buy rating and set a $18.00 price target on shares of Nektar Therapeutics in a research report on Friday, August 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $19.50.
Nektar Therapeutics (NASDAQ:NKTR) opened at 18.03 on Wednesday. Nektar Therapeutics has a 12 month low of $9.92 and a 12 month high of $19.98. The company’s market capitalization is $2.47 billion. The company has a 50-day moving average price of $18.20 and a 200 day moving average price of $15.68.
Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.03. Nektar Therapeutics had a negative net margin of 68.30% and a negative return on equity of 8,769.15%. The firm earned $32.77 million during the quarter, compared to analyst estimates of $34.17 million. During the same period in the prior year, the business posted ($0.40) EPS. The firm’s quarterly revenue was up 44.6% compared to the same quarter last year. On average, equities research analysts forecast that Nektar Therapeutics will post ($1.11) EPS for the current fiscal year.
In related news, CAO Jillian B. Thomsen sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $15.09, for a total transaction of $1,509,000.00. Following the transaction, the chief accounting officer now directly owns 106,809 shares of the company’s stock, valued at approximately $1,611,747.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Chess sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $19.21, for a total value of $230,520.00. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bridger Management LLC acquired a new position in Nektar Therapeutics during the first quarter worth $48,359,000. Bellevue Group AG acquired a new position in Nektar Therapeutics during the first quarter worth $2,970,000. Legal & General Group Plc raised its position in Nektar Therapeutics by 4.7% in the first quarter. Legal & General Group Plc now owns 29,210 shares of the biopharmaceutical company’s stock worth $404,000 after buying an additional 1,323 shares during the last quarter. HBK Investments L P acquired a new position in Nektar Therapeutics during the first quarter worth $178,000. Finally, Geode Capital Management LLC raised its position in Nektar Therapeutics by 7.9% in the first quarter. Geode Capital Management LLC now owns 979,790 shares of the biopharmaceutical company’s stock worth $13,472,000 after buying an additional 72,107 shares during the last quarter. 96.91% of the stock is currently owned by institutional investors and hedge funds.
About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.
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