Nektar Therapeutics (NKTR) Shares Gap Down to $93.87

Nektar Therapeutics (NASDAQ:NKTR) gapped down before the market opened on Friday . The stock had previously closed at $93.74, but opened at $93.87. Nektar Therapeutics shares last traded at $93.87, with a volume of 4924815 shares trading hands.

NKTR has been the subject of a number of research reports. Jefferies Group boosted their target price on shares of Nektar Therapeutics from $2.12 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. BidaskClub upgraded shares of Nektar Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 21st. Zacks Investment Research upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Cowen reiterated a “buy” rating and set a $101.00 target price on shares of Nektar Therapeutics in a research note on Friday, March 2nd. Finally, Mizuho boosted their price objective on shares of Nektar Therapeutics from $45.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $63.75.

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The company has a debt-to-equity ratio of 2.79, a quick ratio of 5.63 and a current ratio of 5.82. The stock has a market cap of $16,390.00, a PE ratio of -170.67 and a beta of 1.74.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, March 1st. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.14. Nektar Therapeutics had a negative net margin of 31.42% and a negative return on equity of 156.85%. The firm had revenue of $95.47 million during the quarter, compared to the consensus estimate of $36.96 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The company’s revenue for the quarter was up 154.9% compared to the same quarter last year. equities analysts anticipate that Nektar Therapeutics will post -1.33 earnings per share for the current year.

In related news, COO John Nicholson sold 4,879 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $82.94, for a total value of $404,664.26. Following the completion of the transaction, the chief operating officer now owns 387,657 shares of the company’s stock, valued at approximately $32,152,271.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Stephen K. Doberstein sold 2,426 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $82.94, for a total transaction of $201,212.44. Following the completion of the transaction, the senior vice president now directly owns 67,394 shares of the company’s stock, valued at approximately $5,589,658.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 369,592 shares of company stock valued at $34,241,981. Insiders own 6.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. bought a new position in Nektar Therapeutics in the 4th quarter worth $219,000. Certified Advisory Corp bought a new position in Nektar Therapeutics in the 4th quarter worth $148,000. Xact Kapitalforvaltning AB bought a new position in Nektar Therapeutics in the 4th quarter worth $851,000. Handelsbanken Fonder AB bought a new position in Nektar Therapeutics in the 4th quarter worth $4,121,000. Finally, Slow Capital Inc. bought a new position in Nektar Therapeutics in the 4th quarter worth $919,000. 96.22% of the stock is owned by institutional investors.

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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.

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