Nektar Therapeutics (NKTR) Shares Gap Up to $15.29
Shares of Nektar Therapeutics (NASDAQ:NKTR) gapped up before the market opened on Thursday . The stock had previously closed at $15.28, but opened at $15.29. Nektar Therapeutics shares last traded at $15.45, with a volume of 456,607 shares.
NKTR has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Piper Jaffray Cos. reiterated a “buy” rating and set a $17.00 target price on shares of Nektar Therapeutics in a report on Wednesday, May 4th. Finally, Brean Capital reiterated a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. Nektar Therapeutics presently has a consensus rating of “Buy” and an average price target of $18.20.
The company has a 50 day moving average of $15.09 and a 200 day moving average of $14.00. The company’s market capitalization is $2.10 billion.
Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.09. The business earned $58.88 million during the quarter, compared to the consensus estimate of $43.78 million. During the same quarter last year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was down 45.9% on a year-over-year basis. Equities research analysts anticipate that Nektar Therapeutics will post ($0.95) EPS for the current fiscal year.
In related news, CAO Jillian B. Thomsen sold 100,000 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $15.09, for a total transaction of $1,509,000.00. Following the transaction, the chief accounting officer now directly owns 106,809 shares in the company, valued at approximately $1,611,747.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lutz Lingnau sold 15,000 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $16.27, for a total transaction of $244,050.00. Following the transaction, the director now owns 31,450 shares in the company, valued at $511,691.50. The disclosure for this sale can be found here.
Other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Nektar Therapeutics by 160.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 961,613 shares of the biopharmaceutical company’s stock valued at $16,204,000 after buying an additional 591,750 shares during the last quarter. Marshall Wace LLP bought a new stake in Nektar Therapeutics during the fourth quarter valued at about $5,462,000. State of Tennessee Treasury Department bought a new stake in Nektar Therapeutics during the fourth quarter valued at about $1,736,000. Principal Financial Group Inc. boosted its stake in Nektar Therapeutics by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,208,204 shares of the biopharmaceutical company’s stock valued at $20,359,000 after buying an additional 56,510 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Nektar Therapeutics by 11.9% in the fourth quarter. ProShare Advisors LLC now owns 129,779 shares of the biopharmaceutical company’s stock valued at $2,187,000 after buying an additional 13,798 shares during the period.
Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.
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