Nektar Therapeutics (NKTR) Trading 18.5% Higher

Nektar Therapeutics (NASDAQ:NKTR) shares traded up 18.5% on Wednesday . The company traded as high as $69.42 and last traded at $68.03. 5,984,400 shares changed hands during mid-day trading, an increase of 161% from the average session volume of 2,297,083 shares. The stock had previously closed at $57.40.

A number of research analysts recently weighed in on the company. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 target price (up previously from $50.00) on shares of Nektar Therapeutics in a report on Wednesday. Zacks Investment Research lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. Canaccord Genuity Group raised their price objective on Nektar Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Roth Capital set a $45.00 price objective on Nektar Therapeutics and gave the company a “buy” rating in a research report on Monday, November 13th. Finally, Mizuho raised their price objective on Nektar Therapeutics from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $38.08.

The firm has a market cap of $11,000.00, a PE ratio of -98.42 and a beta of 1.81. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.99 and a current ratio of 4.14.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.16. Nektar Therapeutics had a return on equity of 557.76% and a net margin of 39.80%. The business had revenue of $152.90 million for the quarter, compared to analyst estimates of $126.50 million. During the same period in the previous year, the company earned ($0.32) earnings per share. The company’s revenue for the quarter was up 321.2% compared to the same quarter last year. analysts forecast that Nektar Therapeutics will post -0.75 EPS for the current fiscal year.

In other news, SVP Stephen K. Doberstein sold 396,323 shares of Nektar Therapeutics stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $29.00, for a total transaction of $11,493,367.00. Following the sale, the senior vice president now directly owns 52,016 shares of the company’s stock, valued at $1,508,464. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Howard W. Robin sold 83,334 shares of Nektar Therapeutics stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.57, for a total value of $1,964,182.38. Following the sale, the chief executive officer now directly owns 235,838 shares in the company, valued at $5,558,701.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 614,017 shares of company stock worth $20,587,527. Corporate insiders own 5.44% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP purchased a new stake in shares of Nektar Therapeutics during the third quarter worth about $23,924,000. GSA Capital Partners LLP purchased a new stake in shares of Nektar Therapeutics during the third quarter worth about $1,454,000. Neuberger Berman Group LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter worth about $5,398,000. California Public Employees Retirement System increased its position in shares of Nektar Therapeutics by 2.3% during the third quarter. California Public Employees Retirement System now owns 195,200 shares of the biopharmaceutical company’s stock worth $4,685,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Granahan Investment Management Inc. MA increased its position in shares of Nektar Therapeutics by 5.4% during the third quarter. Granahan Investment Management Inc. MA now owns 483,800 shares of the biopharmaceutical company’s stock worth $11,611,000 after acquiring an additional 24,599 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

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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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