Wall Street Zen Downgrades Nektar Therapeutics (NASDAQ:NKTR) to Sell

Nektar Therapeutics (NASDAQ:NKTR) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

A number of other brokerages also recently commented on NKTR. B. Riley Financial reiterated a “buy” rating and set a $150.00 price objective (up from $105.00) on shares of Nektar Therapeutics in a research report on Monday, February 23rd. HC Wainwright boosted their target price on Nektar Therapeutics from $135.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 target price on shares of Nektar Therapeutics in a report on Friday, March 13th. TD Cowen initiated coverage on Nektar Therapeutics in a research report on Tuesday, March 17th. They issued a “buy” rating for the company. Finally, Citigroup lifted their price target on Nektar Therapeutics from $102.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.13.

Nektar Therapeutics Price Performance

NASDAQ NKTR opened at $65.25 on Friday. Nektar Therapeutics has a 12 month low of $6.45 and a 12 month high of $77.97. The company has a market capitalization of $1.87 billion, a P/E ratio of -6.40 and a beta of 1.17. The company’s 50 day simple moving average is $60.65 and its 200 day simple moving average is $56.08.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, March 12th. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.69) by $0.91. The firm had revenue of $21.81 million during the quarter, compared to analysts’ expectations of $10.44 million. Nektar Therapeutics had a negative net margin of 297.07% and a negative return on equity of 386.16%. On average, analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 3,867 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total transaction of $137,935.89. Following the transaction, the insider directly owned 21,354 shares in the company, valued at approximately $761,697.18. The trade was a 15.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 423 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $73.00, for a total transaction of $30,879.00. Following the sale, the chief executive officer directly owned 75,489 shares in the company, valued at approximately $5,510,697. This trade represents a 0.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,470 shares of company stock valued at $181,955 in the last ninety days. Company insiders own 5.25% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NKTR. BNP Paribas Financial Markets lifted its stake in Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 210 shares in the last quarter. Compass Wealth Management LLC acquired a new stake in Nektar Therapeutics during the 3rd quarter worth about $88,000. Bessemer Group Inc. grew its stake in Nektar Therapeutics by 1,741.2% during the 3rd quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 1,480 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Nektar Therapeutics during the 3rd quarter valued at about $96,000. Finally, Quarry LP acquired a new position in shares of Nektar Therapeutics in the 4th quarter valued at about $85,000. 75.88% of the stock is 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.