Nektar Therapeutics (NKTR) Sees Unusually-High Trading Volume
Nektar Therapeutics (NASDAQ:NKTR) saw an uptick in trading volume on Monday . 3,070,400 shares changed hands during mid-day trading, an increase of 77% from the previous session’s volume of 1,734,196 shares.The stock last traded at $32.50 and had previously closed at $31.74.
A number of research firms have recently issued reports on NKTR. J P Morgan Chase & Co restated a “buy” rating and issued a $44.00 price target on shares of Nektar Therapeutics in a research report on Monday. Mizuho restated a “buy” rating and issued a $45.00 price target (up from $30.00) on shares of Nektar Therapeutics in a research report on Wednesday, November 8th. Canaccord Genuity began coverage on Nektar Therapeutics in a research report on Thursday. They issued a “buy” rating and a $35.00 price target for the company. Jefferies Group LLC restated a “buy” rating and issued a $35.00 price target on shares of Nektar Therapeutics in a research report on Wednesday, November 8th. Finally, Cowen and Company initiated coverage on Nektar Therapeutics in a report on Tuesday, November 7th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.82.
The company has a debt-to-equity ratio of 2.91, a current ratio of 4.14 and a quick ratio of 3.99.
Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. Nektar Therapeutics had a negative return on equity of 190.68% and a negative net margin of 42.08%. The company had revenue of $152.90 million for the quarter, compared to analysts’ expectations of $126.50 million. During the same period in the prior year, the firm earned ($0.32) earnings per share. The firm’s revenue was up 321.2% compared to the same quarter last year. sell-side analysts anticipate that Nektar Therapeutics will post -0.78 EPS for the current fiscal year.
In other Nektar Therapeutics news, SVP Maninder Hora sold 5,117 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $25.07, for a total transaction of $128,283.19. Following the transaction, the senior vice president now directly owns 52,016 shares in the company, valued at $1,304,041.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephen K. Doberstein sold 396,323 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $29.00, for a total value of $11,493,367.00. Following the transaction, the senior vice president now owns 52,016 shares in the company, valued at $1,508,464. The disclosure for this sale can be found here. Insiders have sold 1,024,757 shares of company stock worth $25,974,361 over the last 90 days. 5.44% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its stake in Nektar Therapeutics by 1.0% during the second quarter. Arizona State Retirement System now owns 80,945 shares of the biopharmaceutical company’s stock worth $1,582,000 after purchasing an additional 800 shares in the last quarter. State of Wisconsin Investment Board acquired a new position in Nektar Therapeutics during the second quarter worth $2,248,000. Bank of New York Mellon Corp lifted its stake in Nektar Therapeutics by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 2,138,632 shares of the biopharmaceutical company’s stock worth $41,812,000 after purchasing an additional 12,730 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Nektar Therapeutics by 9.1% during the second quarter. Ameriprise Financial Inc. now owns 952,443 shares of the biopharmaceutical company’s stock worth $18,620,000 after purchasing an additional 79,510 shares in the last quarter. Finally, Piedmont Investment Advisors LLC raised its stake in shares of Nektar Therapeutics by 264.6% in the second quarter. Piedmont Investment Advisors LLC now owns 33,545 shares of the biopharmaceutical company’s stock valued at $656,000 after acquiring an additional 24,344 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.
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About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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