Nektar Therapeutics (NKTR) Shares Down 6.6%

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Shares of Nektar Therapeutics (NASDAQ:NKTR) traded down 6.6% on Wednesday . The stock traded as low as $31.16 and last traded at $31.19. 2,014,033 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 1,731,391 shares. The stock had previously closed at $33.38.

Several analysts recently weighed in on the company. Zacks Investment Research raised Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, January 8th. BidaskClub lowered Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 27th. BMO Capital Markets assumed coverage on Nektar Therapeutics in a research note on Friday, February 22nd. They issued an “outperform” rating and a $75.00 price objective on the stock. ValuEngine lowered Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, December 21st. Finally, Svb Leerink assumed coverage on Nektar Therapeutics in a research note on Friday, March 15th. They issued a “mkt perform” rating and a $38.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $73.92.

The company has a market cap of $5.63 billion, a P/E ratio of 8.25 and a beta of 3.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 17.53 and a quick ratio of 17.39.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, February 28th. The biopharmaceutical company reported ($0.57) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.70) by $0.13. Nektar Therapeutics had a return on equity of 50.22% and a net margin of 57.09%. The firm had revenue of $39.83 million for the quarter, compared to analyst estimates of $25.97 million. During the same period last year, the firm posted ($0.21) earnings per share. As a group, equities research analysts anticipate that Nektar Therapeutics will post -3.02 EPS for the current fiscal year.

In other news, CFO Gil M. Labrucherie sold 3,592 shares of Nektar Therapeutics stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $42.39, for a total transaction of $152,264.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maninder Hora sold 2,386 shares of Nektar Therapeutics stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $42.39, for a total value of $101,142.54. Following the sale, the senior vice president now directly owns 99,374 shares in the company, valued at $4,212,463.86. The disclosure for this sale can be found here. Insiders have sold 241,824 shares of company stock worth $10,249,993 over the last three months. Insiders own 4.31% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Nektar Therapeutics by 20.8% during the third quarter. Bank of New York Mellon Corp now owns 1,401,029 shares of the biopharmaceutical company’s stock worth $85,406,000 after acquiring an additional 241,111 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Nektar Therapeutics by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 224,471 shares of the biopharmaceutical company’s stock worth $13,683,000 after acquiring an additional 9,196 shares during the last quarter. Standard Life Aberdeen plc raised its position in shares of Nektar Therapeutics by 230.8% during the third quarter. Standard Life Aberdeen plc now owns 162,011 shares of the biopharmaceutical company’s stock worth $9,876,000 after acquiring an additional 113,029 shares during the last quarter. United Services Automobile Association raised its position in shares of Nektar Therapeutics by 11.7% during the third quarter. United Services Automobile Association now owns 55,945 shares of the biopharmaceutical company’s stock worth $3,410,000 after acquiring an additional 5,868 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Nektar Therapeutics by 138.7% during the third quarter. Renaissance Technologies LLC now owns 68,848 shares of the biopharmaceutical company’s stock worth $4,197,000 after acquiring an additional 40,000 shares during the last quarter. 94.63% of the stock is currently owned by hedge funds and other institutional investors.

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About Nektar Therapeutics (NASDAQ:NKTR)

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

Further Reading: Gross Domestic Product (GDP)

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