Evercore ISI Reiterates Hold Rating for Nektar Therapeutics (NASDAQ:NKTR)

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Evercore ISI reaffirmed their hold rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research report released on Sunday, AnalystRatings.com reports. Evercore ISI currently has a $37.00 price target on the biopharmaceutical company’s stock.

Other equities analysts also recently issued reports about the company. ValuEngine raised Nektar Therapeutics from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. William Blair reissued a buy rating on shares of Nektar Therapeutics in a research note on Friday, June 14th. BMO Capital Markets cut their target price on Nektar Therapeutics from $75.00 to $41.00 and set an outperform rating for the company in a research note on Friday, August 9th. Cowen set a $82.00 target price on Nektar Therapeutics and gave the stock a buy rating in a research note on Thursday, June 13th. Finally, Piper Jaffray Companies increased their target price on Nektar Therapeutics from $50.00 to $100.00 and gave the stock an overweight rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $49.15.

Nektar Therapeutics stock opened at $18.82 on Friday. Nektar Therapeutics has a twelve month low of $17.30 and a twelve month high of $69.76. The stock’s 50 day moving average is $31.05. The company has a quick ratio of 14.83, a current ratio of 14.94 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.29 billion, a PE ratio of 4.98 and a beta of 2.67.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.17. The company had revenue of $23.32 million during the quarter, compared to analysts’ expectations of $26.65 million. Nektar Therapeutics had a negative return on equity of 24.67% and a negative net margin of 354.90%. The firm’s revenue for the quarter was down 97.9% on a year-over-year basis. During the same period last year, the firm earned $5.33 EPS. As a group, equities analysts predict that Nektar Therapeutics will post -3.13 EPS for the current year.

In related news, Director Lutz Lingnau sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $34.63, for a total value of $346,300.00. Following the completion of the transaction, the director now directly owns 33,200 shares of the company’s stock, valued at approximately $1,149,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Howard W. Robin sold 33,333 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.93, for a total value of $1,097,655.69. Following the completion of the transaction, the chief executive officer now directly owns 328,659 shares of the company’s stock, valued at $10,822,740.87. The disclosure for this sale can be found here. Insiders sold a total of 226,667 shares of company stock valued at $7,521,310 over the last ninety days. 4.02% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. grew its holdings in Nektar Therapeutics by 150.2% during the 1st quarter. Meeder Asset Management Inc. now owns 798 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 479 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in Nektar Therapeutics during the 1st quarter valued at $27,000. Capital Investment Advisory Services LLC grew its holdings in Nektar Therapeutics by 1,566.7% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 940 shares during the last quarter. Kavar Capital Partners LLC acquired a new stake in Nektar Therapeutics during the 2nd quarter valued at $44,000. Finally, Gemmer Asset Management LLC grew its holdings in Nektar Therapeutics by 476.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,390 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 1,149 shares during the last quarter. Hedge funds and other institutional investors own 92.48% of the company’s stock.

About Nektar Therapeutics

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.

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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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