Nektar Therapeutics (NASDAQ:NKTR) Price Target Cut to $35.00

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Nektar Therapeutics (NASDAQ:NKTR) had its price target reduced by Piper Jaffray Companies from $50.00 to $35.00 in a research report report published on Thursday, The Fly reports. They currently have an overweight rating on the biopharmaceutical company’s stock. Piper Jaffray Companies also issued estimates for Nektar Therapeutics’ Q1 2021 earnings at ($0.65) EPS, Q2 2021 earnings at ($0.70) EPS and Q3 2021 earnings at ($0.70) EPS.

Several other brokerages have also recently weighed in on NKTR. Jefferies Financial Group cut Nektar Therapeutics from a buy rating to a hold rating and reduced their price target for the company from $59.00 to $23.00 in a research report on Friday, August 9th. Oppenheimer assumed coverage on Nektar Therapeutics in a research report on Thursday, October 24th. They set a market perform rating and a $18.00 price target for the company. Evercore ISI reiterated a hold rating and set a $37.00 price target on shares of Nektar Therapeutics in a research report on Sunday, August 11th. TheStreet cut Nektar Therapeutics from a c rating to a d rating in a research report on Thursday, August 8th. Finally, BidaskClub cut Nektar Therapeutics from a sell rating to a strong sell rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $34.57.

NKTR traded up $1.34 on Thursday, hitting $20.04. The company had a trading volume of 3,963,600 shares, compared to its average volume of 2,359,833. The company has a debt-to-equity ratio of 0.22, a quick ratio of 13.97 and a current ratio of 14.09. Nektar Therapeutics has a 12-month low of $15.64 and a 12-month high of $47.11. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 5.30 and a beta of 2.62. The stock has a fifty day moving average price of $17.90 and a 200-day moving average price of $26.15.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.17. The company had revenue of $29.22 million during the quarter, compared to analysts’ expectations of $26.42 million. Nektar Therapeutics had a negative return on equity of 25.25% and a negative net margin of 354.90%. Nektar Therapeutics’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned ($0.56) earnings per share. Analysts forecast that Nektar Therapeutics will post -2.85 EPS for the current fiscal year.

In other news, CEO Howard W. Robin sold 33,334 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.48, for a total value of $582,678.32. Following the completion of the sale, the chief executive officer now directly owns 346,108 shares in the company, valued at $6,049,967.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Katharina Otto-Bernstein sold 29,127 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $36.72, for a total value of $1,069,543.44. Insiders sold 169,328 shares of company stock valued at $3,587,957 over the last 90 days. Company insiders own 4.02% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in shares of Nektar Therapeutics by 3,992.9% in the third quarter. Tower Research Capital LLC TRC now owns 8,677 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 8,465 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Nektar Therapeutics by 38.6% in the third quarter. SG Americas Securities LLC now owns 63,251 shares of the biopharmaceutical company’s stock valued at $1,152,000 after buying an additional 17,622 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Nektar Therapeutics by 7.6% in the third quarter. Daiwa Securities Group Inc. now owns 7,820 shares of the biopharmaceutical company’s stock valued at $142,000 after buying an additional 550 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Nektar Therapeutics by 46.7% in the third quarter. IFM Investors Pty Ltd now owns 14,843 shares of the biopharmaceutical company’s stock valued at $270,000 after buying an additional 4,724 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Nektar Therapeutics by 47.3% in the third quarter. LS Investment Advisors LLC now owns 12,216 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 3,925 shares in the last quarter. Institutional investors and hedge funds own 93.37% 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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