Comerica Bank Has $3.83 Million Stake in Nektar Therapeutics (NKTR)

Comerica Bank reduced its position in Nektar Therapeutics (NASDAQ:NKTR) by 73.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,448 shares of the biopharmaceutical company’s stock after selling 119,208 shares during the quarter. Comerica Bank’s holdings in Nektar Therapeutics were worth $3,827,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new stake in shares of Nektar Therapeutics in the 1st quarter valued at $111,000. BB&T Investment Services Inc. bought a new stake in shares of Nektar Therapeutics in the 4th quarter valued at $119,000. Meeder Asset Management Inc. bought a new stake in shares of Nektar Therapeutics in the 4th quarter valued at $121,000. Certified Advisory Corp bought a new stake in shares of Nektar Therapeutics in the 4th quarter valued at $148,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Nektar Therapeutics in the 4th quarter valued at $200,000. 90.15% of the stock is currently owned by institutional investors.

Nektar Therapeutics stock opened at $79.23 on Friday. The company has a debt-to-equity ratio of 4.21, a quick ratio of 4.03 and a current ratio of 4.16. Nektar Therapeutics has a 12-month low of $81.35 and a 12-month high of $83.77. The firm has a market cap of $14.29 billion, a P/E ratio of -144.05 and a beta of 1.79.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.08). Nektar Therapeutics had a negative net margin of 40.07% and a negative return on equity of 202.41%. The company had revenue of $38.02 million for the quarter, compared to analyst estimates of $35.59 million. During the same quarter in the previous year, the firm earned ($0.42) EPS. The firm’s revenue was up 53.7% on a year-over-year basis. equities research analysts expect that Nektar Therapeutics will post 2.58 EPS for the current fiscal year.

In other Nektar Therapeutics news, SVP Maninder Hora sold 20,000 shares of the company’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $101.75, for a total transaction of $2,035,000.00. Following the transaction, the senior vice president now owns 127,394 shares in the company, valued at $12,962,339.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Stephen K. Doberstein sold 160,000 shares of the company’s stock in a transaction on Monday, April 9th. The stock was sold at an average price of $93.06, for a total transaction of $14,889,600.00. Following the transaction, the senior vice president now owns 127,394 shares in the company, valued at approximately $11,855,285.64. The disclosure for this sale can be found here. Insiders have sold a total of 797,359 shares of company stock worth $73,089,550 in the last quarter. 6.10% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of Nektar Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 21st. HC Wainwright reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Nektar Therapeutics in a research note on Monday, April 2nd. Mizuho set a $89.00 price objective on shares of Nektar Therapeutics and gave the company a “buy” rating in a research note on Thursday, March 29th. Piper Jaffray assumed coverage on shares of Nektar Therapeutics in a research note on Friday, April 13th. They issued an “overweight” rating and a $125.00 price objective on the stock. Finally, Cowen reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Nektar Therapeutics in a research note on Friday, March 2nd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $79.50.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain based on its PEGylation and polymer conjugate technology platforms in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.

Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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