Piper Jaffray Companies Trims Nektar Therapeutics (NASDAQ:NKTR) Target Price to $35.00

Nektar Therapeutics (NASDAQ:NKTR) had its price objective trimmed by Piper Jaffray Companies from $50.00 to $35.00 in a research report sent to investors on Thursday morning, The Fly reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock. Piper Jaffray Companies also issued estimates for Nektar Therapeutics’ Q1 2021 earnings at ($0.65) EPS, Q2 2021 earnings at ($0.70) EPS and Q3 2021 earnings at ($0.70) EPS.

Other research analysts also recently issued reports about the company. Mizuho restated a hold rating and issued a $21.00 price target on shares of Nektar Therapeutics in a research note on Thursday. Jefferies Financial Group downgraded Nektar Therapeutics from a buy rating to a hold rating and dropped their price target for the stock from $59.00 to $23.00 in a research note on Friday, August 9th. Zacks Investment Research downgraded Nektar Therapeutics from a buy rating to a hold rating and set a $34.00 price target for the company. in a research note on Wednesday, July 31st. Evercore ISI restated a hold rating and issued a $37.00 price target on shares of Nektar Therapeutics in a research note on Sunday, August 11th. Finally, ValuEngine upgraded Nektar Therapeutics from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Two equities research 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. Nektar Therapeutics has an average rating of Hold and a consensus price target of $34.57.

NKTR traded up $1.34 during midday trading on Thursday, hitting $20.04. 3,963,600 shares of the company traded hands, compared to its average volume of 2,359,833. Nektar Therapeutics has a 52 week low of $15.64 and a 52 week high of $47.11. The company has a quick ratio of 13.97, a current ratio of 14.09 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.25 billion, a PE ratio of 5.30 and a beta of 2.62. The company’s 50-day moving average is $17.90 and its 200 day moving average is $26.15.

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

In other news, CFO Gil M. Labrucherie sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $15.83, for a total transaction of $395,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Katharina Otto-Bernstein sold 29,127 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $36.72, for a total value of $1,069,543.44. Insiders have sold a total of 169,328 shares of company stock valued at $3,587,957 over the last quarter. Corporate insiders own 4.02% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Aperio Group LLC lifted its position in Nektar Therapeutics by 8.3% in the second 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 last quarter. Financial Advisors Network Inc. lifted its position in Nektar Therapeutics by 10.7% in the second 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 last quarter. Atria Investments LLC bought a new stake in Nektar Therapeutics in the second quarter worth $240,000. Bank of New York Mellon Corp lifted its position in Nektar Therapeutics by 2.4% in the second 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 last quarter. Finally, Bank of Montreal Can lifted its position in Nektar Therapeutics by 12.1% in the second 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 last quarter. 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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