Nektar Therapeutics (NASDAQ:NKTR) Receives Buy Rating from Cowen

Cowen reiterated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report released on Thursday morning, AnalystRatings.com reports.

NKTR has been the topic of several other research reports. JPMorgan Chase & Co. downgraded shares of Nektar Therapeutics from an overweight rating to a neutral rating and cut their price objective for the company from $62.00 to $33.00 in a report on Friday, August 9th. Mizuho restated a hold rating and set a $21.00 price objective on shares of Nektar Therapeutics in a report on Thursday. Zacks Investment Research downgraded shares of Nektar Therapeutics from a buy rating to a hold rating and set a $34.00 price objective on the stock. in a report on Wednesday, July 31st. Cfra set a $35.00 price objective on shares of Nektar Therapeutics and gave the company a hold rating in a report on Friday, August 9th. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of Nektar Therapeutics and gave the company a buy rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $34.57.

NKTR stock traded up $1.34 during mid-day trading on Thursday, reaching $20.04. 3,963,600 shares of the stock traded hands, compared to its average volume of 2,359,833. The stock has a market capitalization of $3.25 billion, a PE ratio of 5.30 and a beta of 2.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 13.97 and a current ratio of 14.09. The business has a 50-day moving average price of $17.90 and a two-hundred day moving average price of $26.15. Nektar Therapeutics has a one year low of $15.64 and a one year high of $47.11.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.17. The business had revenue of $29.22 million during the quarter, compared to the consensus estimate of $26.42 million. Nektar Therapeutics had a negative net margin of 354.90% and a negative return on equity of 25.25%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.56) earnings per share. On average, equities analysts expect that Nektar Therapeutics will post -2.85 earnings per share for the current fiscal year.

In related news, CFO Gil M. Labrucherie sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $17.79, for a total value of $444,750.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jillian B. Thomsen sold 1,809 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.15, for a total transaction of $32,833.35. Following the completion of the transaction, the senior vice president now owns 92,668 shares in the company, valued at approximately $1,681,924.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,328 shares of company stock worth $3,587,957. Corporate insiders own 4.02% of the company’s stock.

Large investors have recently modified their holdings of the stock. Aperio Group LLC increased its holdings in Nektar Therapeutics by 8.3% in the 2nd quarter. Aperio Group LLC now owns 44,069 shares of the biopharmaceutical company’s stock worth $1,567,000 after buying an additional 3,360 shares during the period. Financial Advisors Network Inc. increased its holdings in Nektar Therapeutics by 10.7% in the 2nd quarter. Financial Advisors Network Inc. now owns 32,582 shares of the biopharmaceutical company’s stock worth $938,000 after buying an additional 3,154 shares during the period. Atria Investments LLC acquired a new position in Nektar Therapeutics in the 2nd quarter worth approximately $240,000. Bank of New York Mellon Corp increased its holdings in Nektar Therapeutics by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,479,386 shares of the biopharmaceutical company’s stock worth $52,637,000 after buying an additional 35,176 shares during the period. Finally, Bank of Montreal Can increased its holdings in Nektar Therapeutics by 12.1% in the 2nd quarter. Bank of Montreal Can now owns 177,727 shares of the biopharmaceutical company’s stock worth $6,323,000 after buying an additional 19,184 shares during the period. Institutional investors own 93.37% of the company’s stock.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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