Nektar Therapeutics (NASDAQ:NKTR) had its target price upped by analysts at Aegis to $24.00 in a research note issued to investors on Monday. Aegis’ target price suggests a potential upside of 7.72% from the company’s current price.
A number of other equities research analysts have also recently issued reports on the stock. Roth Capital lifted their price target on shares of Nektar Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 price target (up previously from $15.00) on shares of Nektar Therapeutics in a research note on Friday, March 3rd. BTIG Research began coverage on shares of Nektar Therapeutics in a research note on Friday, January 6th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Piper Jaffray Companies set a $25.00 price target on shares of Nektar Therapeutics and gave the company a “buy” rating in a research note on Monday, December 12th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Nektar Therapeutics presently has an average rating of “Buy” and an average target price of $22.86.
Nektar Therapeutics (NASDAQ:NKTR) traded up 42.65% during trading on Monday, hitting $22.11. 15,338,226 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $13.78 and its 200 day moving average price is $14.35. The firm’s market cap is $3.40 billion. Nektar Therapeutics has a 12-month low of $11.41 and a 12-month high of $22.32.
Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.28) earnings per share (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 company earned $37.45 million during the quarter, compared to analyst estimates of $40.83 million. During the same period in the prior year, the business posted ($0.40) EPS. Nektar Therapeutics’s revenue was down 4.9% compared to the same quarter last year. Equities analysts forecast that Nektar Therapeutics will post ($1.35) earnings per share for the current fiscal year.
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In other Nektar Therapeutics news, COO John Nicholson sold 75,000 shares of Nektar Therapeutics stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $12.39, for a total transaction of $929,250.00. Following the sale, the chief operating officer now owns 206,821 shares of the company’s stock, valued at approximately $2,562,512.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gil M. Labrucherie sold 200,000 shares of Nektar Therapeutics stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $15.16, for a total transaction of $3,032,000.00. The disclosure for this sale can be found here. Insiders sold a total of 465,689 shares of company stock worth $6,389,028 in the last three months. 6.10% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in NKTR. Camber Capital Management LLC boosted its stake in shares of Nektar Therapeutics by 87.5% in the fourth quarter. Camber Capital Management LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock valued at $73,620,000 after buying an additional 2,800,000 shares during the period. Norges Bank acquired a new stake in shares of Nektar Therapeutics during the fourth quarter valued at about $31,574,000. BlackRock Fund Advisors boosted its stake in shares of Nektar Therapeutics by 7.3% in the third quarter. BlackRock Fund Advisors now owns 10,970,974 shares of the biopharmaceutical company’s stock valued at $188,481,000 after buying an additional 749,496 shares during the period. State Street Corp boosted its stake in shares of Nektar Therapeutics by 21.9% in the fourth quarter. State Street Corp now owns 4,062,468 shares of the biopharmaceutical company’s stock valued at $49,839,000 after buying an additional 730,836 shares during the period. Finally, RA Capital Management LLC boosted its stake in shares of Nektar Therapeutics by 13.6% in the third quarter. RA Capital Management LLC now owns 3,664,154 shares of the biopharmaceutical company’s stock valued at $62,950,000 after buying an additional 439,300 shares during the period. 86.80% of the stock is currently owned by institutional investors.
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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