Nektar Therapeutics (NKTR) Upgraded by Zacks Investment Research to “Hold”
Nektar Therapeutics (NASDAQ:NKTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Nektar, a biopharmaceutical company, is focused on the development of drugs utilizing PEGylation and advanced polymer conjugate technology platforms. The company received a huge boost when Movantik became the first oral PAMORA to gain approval in both the U.S. and the EU. Nektar stands to receive significant sales milestone and royalty opportunity for Movantik under the AstraZeneca license agreement, which is expected to boost its financial position significantly. Moreover, if Nektar’s other partnered programs are successful, they could contribute to the company’s royalty streams as early as 2017. Nektar also has a robust pipeline. However, the company relies heavily on its partners for top-line growth. Stiff competition is another concern. It has several pipeline-related updates coming up over the next several quarters, which could act as catalyst. Any hiccup could pull down the stock significantly.”
A number of other brokerages have also issued reports on NKTR. Brean Capital restated a “buy” rating and set a $18.00 target price on shares of Nektar Therapeutics in a research report on Friday, August 5th. Piper Jaffray Cos. restated an “overweight” rating and set a $21.00 target price (up previously from $17.00) on shares of Nektar Therapeutics in a research report on Friday, August 5th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research note on Thursday, September 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.50.
Nektar Therapeutics (NASDAQ:NKTR) traded down 1.608% during mid-day trading on Wednesday, hitting $18.665. 404,106 shares of the stock traded hands. Nektar Therapeutics has a 12 month low of $9.92 and a 12 month high of $19.98. The stock’s 50 day moving average is $18.04 and its 200-day moving average is $15.47. The company’s market cap is $2.55 billion.
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 Zacks’ consensus estimate of ($0.33) by $0.03. Nektar Therapeutics had a negative return on equity of 8,769.15% and a negative net margin of 68.30%. The firm had revenue of $32.77 million for the quarter, compared to analyst estimates of $34.17 million. During the same quarter last year, the business posted ($0.40) EPS. The firm’s revenue was up 44.6% compared to the same quarter last year. On average, equities research analysts anticipate that Nektar Therapeutics will post ($1.11) EPS for the current year.
In other news, Director Christopher A. Kuebler sold 7,500 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $19.13, for a total value of $143,475.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Chess sold 5,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $14.10, for a total transaction of $70,500.00. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Genesee Valley Trust Co. increased its position in shares of Nektar Therapeutics by 5.7% in the second quarter. Genesee Valley Trust Co. now owns 12,135 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 650 shares in the last quarter. PineBridge Investments L.P. increased its position in shares of Nektar Therapeutics by 4.0% in the second quarter. PineBridge Investments L.P. now owns 17,281 shares of the biopharmaceutical company’s stock worth $246,000 after buying an additional 671 shares in the last quarter. Rathbone Brothers plc increased its position in shares of Nektar Therapeutics by 4.1% in the second quarter. Rathbone Brothers plc now owns 17,800 shares of the biopharmaceutical company’s stock worth $253,000 after buying an additional 700 shares in the last quarter. Arizona State Retirement System increased its position in shares of Nektar Therapeutics by 1.6% in the second quarter. Arizona State Retirement System now owns 70,745 shares of the biopharmaceutical company’s stock worth $1,007,000 after buying an additional 1,100 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Nektar Therapeutics by 8.5% in the second quarter. Amalgamated Bank now owns 15,020 shares of the biopharmaceutical company’s stock worth $258,000 after buying an additional 1,177 shares in the last quarter. 96.91% of the stock is currently owned by institutional investors and hedge funds.
Nektar Therapeutics Company Profile
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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