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.
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.
TRADEMARK VIOLATION WARNING: This report was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.com-unik.info/2018/01/12/nektar-therapeutics-nktr-trading-18-5-higher.html.
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.
What are top analysts saying about Nektar Therapeutics? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Nektar Therapeutics and related companies.