Investors Buy Nektar Therapeutics (NKTR) on Weakness

Traders bought shares of Nektar Therapeutics (NASDAQ:NKTR) on weakness during trading on Friday. $36.05 million flowed into the stock on the tick-up and $13.02 million flowed out of the stock on the tick-down, for a money net flow of $23.03 million into the stock. Of all companies tracked, Nektar Therapeutics had the 15th highest net in-flow for the day. Nektar Therapeutics traded down ($0.78) for the day and closed at $59.72

Several brokerages have issued reports on NKTR. Mizuho reaffirmed a “buy” rating and set a $45.00 price objective (up previously from $30.00) on shares of Nektar Therapeutics in a report on Wednesday, November 8th. Canaccord Genuity raised their price objective on Nektar Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 13th. Jefferies Group reaffirmed a “buy” rating and set a $35.00 price objective on shares of Nektar Therapeutics in a report on Wednesday, November 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $44.00 price objective on shares of Nektar Therapeutics in a report on Monday, November 13th. Finally, ValuEngine raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.58.

The company has a market cap of $9,400.00, a P/E ratio of -84.11 and a beta of 1.80. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.14 and a quick ratio of 3.99.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.16. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The business had revenue of $152.90 million during the quarter, compared to the consensus estimate of $126.50 million. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. The business’s quarterly revenue was up 321.2% compared to the same quarter last year. equities analysts anticipate that Nektar Therapeutics will post -0.75 earnings per share for the current year.

In related news, SVP Maninder Hora sold 5,117 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $25.07, for a total value of $128,283.19. Following the completion of the sale, the senior vice president now owns 52,016 shares in the company, valued at $1,304,041.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Gil M. Labrucherie sold 120,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $24.45, for a total transaction of $2,934,000.00. The disclosure for this sale can be found here. Insiders have sold 931,027 shares of company stock valued at $27,283,000 in the last quarter. Insiders own 6.10% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new stake in Nektar Therapeutics in the third quarter valued at about $129,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Nektar Therapeutics by 14.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 692 shares during the period. Mark Sheptoff Financial Planning LLC lifted its position in Nektar Therapeutics by 79.4% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $146,000 after purchasing an additional 2,700 shares during the period. Flinton Capital Management LLC lifted its position in Nektar Therapeutics by 75.7% in the second quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock valued at $154,000 after purchasing an additional 3,392 shares during the period. Finally, Riverhead Capital Management LLC lifted its position in Nektar Therapeutics by 78.7% in the second quarter. Riverhead Capital Management LLC now owns 8,754 shares of the biopharmaceutical company’s stock valued at $171,000 after purchasing an additional 3,854 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

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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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