Nektar Therapeutics (NASDAQ:NKTR) Cut to Sell at BidaskClub

Nektar Therapeutics (NASDAQ:NKTR) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

NKTR has been the subject of several other research reports. Jefferies Group LLC reissued a “buy” rating and issued a $23.00 target price on shares of Nektar Therapeutics in a research report on Friday, July 21st. Roth Capital set a $33.00 target price on Nektar Therapeutics and gave the stock a “buy” rating in a research report on Wednesday. Aegis reissued a “buy” rating and issued a $27.00 target price on shares of Nektar Therapeutics in a research report on Wednesday, May 10th. William Blair reissued an “outperform” rating on shares of Nektar Therapeutics in a research report on Tuesday, July 18th. Finally, Zacks Investment Research raised Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.78.

Shares of Nektar Therapeutics (NASDAQ NKTR) traded up 0.696% during midday trading on Friday, reaching $18.075. The company’s stock had a trading volume of 521,114 shares. The company’s 50-day moving average price is $20.60 and its 200 day moving average price is $18.28. The company’s market capitalization is $2.81 billion. Nektar Therapeutics has a 12-month low of $11.41 and a 12-month high of $24.88.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by $0.04. Nektar Therapeutics had a negative return on equity of 1,223.34% and a negative net margin of 157.14%. The firm had revenue of $34.60 million during the quarter, compared to the consensus estimate of $33.64 million. During the same period in the prior year, the company posted ($0.36) EPS. The firm’s revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Nektar Therapeutics will post ($1.02) earnings per share for the current year.

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In related news, SVP Ivan P. Gergel sold 45,080 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $21.08, for a total transaction of $950,286.40. Following the completion of the transaction, the senior vice president now owns 51,961 shares of the company’s stock, valued at approximately $1,095,337.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Stephen K. Doberstein sold 1,701 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $19.55, for a total value of $33,254.55. Following the transaction, the senior vice president now directly owns 32,803 shares of the company’s stock, valued at approximately $641,298.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 159,803 shares of company stock valued at $3,328,247. 6.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Flinton Capital Management LLC raised its position in Nektar Therapeutics by 11.1% in the first quarter. Flinton Capital Management LLC now owns 4,480 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 448 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Nektar Therapeutics by 14.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 692 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in Nektar Therapeutics by 11.1% in the first quarter. Meadow Creek Investment Management LLC now owns 6,160 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 616 shares during the last quarter. LS Investment Advisors LLC raised its stake in Nektar Therapeutics by 8.8% in the second quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 535 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in Nektar Therapeutics by 11.1% in the first quarter. Glen Harbor Capital Management LLC now owns 7,840 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 784 shares during the last quarter. 94.09% of the stock is owned by institutional investors.

Nektar Therapeutics Company Profile

Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.

Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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