Nektar Therapeutics (NASDAQ:NKTR)’s share price fell 2.9% during mid-day trading on Friday . The company traded as low as $17.15 and last traded at $17.21, with a volume of 545,477 shares. The stock had previously closed at $17.72.

Several equities research analysts recently commented on the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $21.00 target price (up previously from $17.00) on shares of Nektar Therapeutics in a research note on Friday, August 5th. Brean Capital reaffirmed a “buy” rating and set a $18.00 target price on shares of Nektar Therapeutics in a research note on Friday, August 5th. Finally, Zacks Investment Research cut Nektar Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.40.

The stock’s market capitalization is $2.36 billion. The company’s 50 day moving average price is $16.18 and its 200 day moving average price is $14.37.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by $0.03. During the same period in the prior year, the company earned ($0.40) earnings per share. The firm earned $32.77 million during the quarter, compared to analysts’ expectations of $34.17 million. The business’s quarterly revenue was up 44.6% on a year-over-year basis. Equities analysts expect that Nektar Therapeutics will post ($1.11) EPS for the current fiscal year.

In related news, Director Robert Chess sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $14.10, for a total value of $70,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Gil M. Labrucherie sold 3,305 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $17.56, for a total value of $58,035.80. The disclosure for this sale can be found here.

Other hedge funds recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in Nektar Therapeutics during the fourth quarter valued at $5,462,000. Principal Financial Group Inc. increased 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 last quarter. BlackRock Advisors LLC increased its stake in Nektar Therapeutics by 2.0% in the fourth quarter. BlackRock Advisors LLC now owns 2,342,182 shares of the biopharmaceutical company’s stock valued at $39,466,000 after buying an additional 45,091 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in Nektar Therapeutics by 1.9% in the fourth quarter. New York State Common Retirement Fund now owns 177,127 shares of the biopharmaceutical company’s stock valued at $2,985,000 after buying an additional 3,300 shares during the last quarter.

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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