Nektar Therapeutics (NKTR) Trading 2.6% Higher
Nektar Therapeutics (NASDAQ:NKTR)’s share price traded up 2.6% on Monday . The stock traded as high as $17.95 and last traded at $17.71, with a volume of 443,620 shares trading hands. The stock had previously closed at $17.26.
NKTR has been the subject of several research analyst reports. Brean Capital reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, June 1st. Zacks Investment Research raised Nektar Therapeutics from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Tuesday, July 19th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and set a $17.00 target price on shares of Nektar Therapeutics in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $19.40.
The stock’s market capitalization is $2.44 billion. The firm has a 50 day moving average of $16.18 and a 200 day moving average of $14.37.
Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. The company earned $32.77 million during the quarter, compared to the consensus estimate of $34.17 million. During the same quarter last year, the firm posted ($0.40) earnings per share. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. On average, equities research analysts forecast that Nektar Therapeutics will post ($1.11) earnings per share for the current year.
In other Nektar Therapeutics news, Director Robert Chess sold 5,000 shares of the business’s stock in a transaction 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 available through the SEC website. Also, COO John Nicholson sold 3,317 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $17.56, for a total value of $58,246.52. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its position in shares of 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 during the last quarter. Principal Financial Group Inc. increased its position in shares of 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 during the last quarter. Finally, BlackRock Advisors LLC increased its position in shares of 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 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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