Nektar Therapeutics (NASDAQ:NKTR) SVP Ivan P. Gergel sold 8,389 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $21.04, for a total transaction of $176,504.56. Following the sale, the senior vice president now directly owns 51,961 shares in the company, valued at approximately $1,093,259.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Nektar Therapeutics (NASDAQ NKTR) opened at 19.64 on Wednesday. Nektar Therapeutics has a 12 month low of $11.41 and a 12 month high of $24.88. The stock’s market capitalization is $3.05 billion. The company has a 50-day moving average of $20.53 and a 200 day moving average of $18.09.
Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.03. Nektar Therapeutics had a negative return on equity of 3,072.86% and a negative net margin of 150.74%. The firm had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $33.64 million. During the same period in the prior year, the firm posted ($0.36) earnings per share. Nektar Therapeutics’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Nektar Therapeutics will post ($1.07) earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Nektar Therapeutics by 180,432.9% in the first quarter. BlackRock Inc. now owns 20,035,546 shares of the biopharmaceutical company’s stock worth $470,234,000 after buying an additional 20,024,448 shares in the last quarter. Camber Capital Management LLC boosted its position in Nektar Therapeutics by 87.5% in the fourth quarter. Camber Capital Management LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $73,620,000 after buying an additional 2,800,000 shares in the last quarter. Norges Bank purchased a new position in Nektar Therapeutics during the fourth quarter worth approximately $31,574,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Nektar Therapeutics during the first quarter worth $23,580,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Nektar Therapeutics during the first quarter worth $23,580,000. 94.09% of the stock is owned by hedge funds and other institutional investors.
NKTR has been the topic of a number of analyst reports. Jefferies Group LLC lowered their target price on shares of Nektar Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, May 10th. Aegis reissued a “buy” rating and set a $27.00 target price on shares of Nektar Therapeutics in a report on Wednesday, May 10th. Roth Capital set a $31.00 target price on shares of Nektar Therapeutics and gave the company a “buy” rating in a report on Thursday, May 11th. BidaskClub upgraded shares of Nektar Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $29.00 price target on shares of Nektar Therapeutics in a research report on Tuesday, April 11th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $26.56.
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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