Nektar Therapeutics (NASDAQ:NKTR) had its price objective hoisted by stock analysts at Roth Capital from $23.00 to $31.00 in a research note issued on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Roth Capital’s price objective points to a potential upside of 39.14% from the stock’s current price.
A number of other equities analysts have also commented on the company. Jefferies Group LLC reissued a “buy” rating and set a $17.00 price target (up from $15.00) on shares of Nektar Therapeutics in a research note on Friday, March 3rd. Aegis reissued a “buy” rating and set a $21.00 price target on shares of Nektar Therapeutics in a research note on Thursday, March 2nd. BTIG Research assumed coverage on Nektar Therapeutics in a research note on Friday, January 6th. They set a “buy” rating and a $22.00 price target for the company. Finally, Piper Jaffray Companies set a $25.00 price target on Nektar Therapeutics and gave the company a “buy” rating in a research note on Monday, December 12th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Nektar Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $22.43.
Shares of Nektar Therapeutics (NASDAQ:NKTR) traded up 42.65% during midday trading on Monday, hitting $22.11. The stock had a trading volume of 14,864,100 shares. The company’s market cap is $3.40 billion. The company’s 50 day moving average is $13.78 and its 200 day moving average is $14.35. Nektar Therapeutics has a 52-week low of $11.41 and a 52-week high of $22.32.
Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.02. Nektar Therapeutics had a negative net margin of 98.87% and a negative return on equity of 8,769.15%. The firm had revenue of $37.45 million for the quarter, compared to the consensus estimate of $40.83 million. During the same period in the previous year, the company posted ($0.40) earnings per share. Nektar Therapeutics’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts anticipate that Nektar Therapeutics will post ($1.35) earnings per share for the current year.
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In other Nektar Therapeutics news, CFO Gil M. Labrucherie sold 2,359 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $13.14, for a total transaction of $30,997.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO John Nicholson sold 3,237 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $13.14, for a total value of $42,534.18. Following the sale, the chief operating officer now owns 182,089 shares in the company, valued at $2,392,649.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 465,689 shares of company stock worth $6,389,028. Company insiders own 6.10% of the company’s stock.
A number of large investors have recently modified their holdings of NKTR. Elkfork Partners LLC bought a new stake in shares of Nektar Therapeutics during the fourth quarter worth about $105,000. Bank of Montreal Can increased its stake in shares of Nektar Therapeutics by 3.4% in the third quarter. Bank of Montreal Can now owns 6,395 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 208 shares during the period. Gideon Capital Advisors Inc. bought a new stake in shares of Nektar Therapeutics during the fourth quarter worth about $145,000. Strs Ohio increased its stake in shares of Nektar Therapeutics by 39.4% in the third quarter. Strs Ohio now owns 9,200 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 2,600 shares during the period. Finally, Genesee Valley Trust Co. increased its stake in shares of Nektar Therapeutics by 0.4% in the third quarter. Genesee Valley Trust Co. now owns 12,189 shares of the biopharmaceutical company’s stock worth $209,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 86.80% of the company’s stock.
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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