Nektar Therapeutics (NASDAQ:NKTR) dropped 2.9% on Friday . The stock traded as low as $17.15 and last traded at $17.21, with a volume of 545,477 shares changing hands. The stock had previously closed at $17.72.

NKTR has been the topic of several recent research reports. Zacks Investment Research downgraded Nektar Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Piper Jaffray Cos. reissued a “buy” rating and set a $17.00 price objective on shares of Nektar Therapeutics in a report on Wednesday, May 4th. Finally, Brean Capital reissued a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Nektar Therapeutics has a consensus rating of “Buy” and an average target price of $19.40.

The company’s market cap is $2.36 billion. The company has a 50-day moving average of $16.18 and a 200 day moving average of $14.37.

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

In related news, CEO Howard W. Robin sold 11,817 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $17.56, for a total value of $207,506.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gil M. Labrucherie sold 3,305 shares of the stock in a transaction on Tuesday, August 16th. The shares were 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 and institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its position 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 worth $2,985,000 after buying an additional 3,300 shares in the last quarter. BlackRock Advisors LLC boosted its position 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 worth $39,466,000 after buying an additional 45,091 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position 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 worth $20,359,000 after buying an additional 56,510 shares in 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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