Nektar Therapeutics (NKTR) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Nektar Therapeutics (NASDAQ:NKTR) from a hold rating to a sell rating in a research report report published on Tuesday.
According to Zacks, “Nektar relies heavily on partners for revenues. Partnership-related setbacks may thus weigh heavily on the company, while disappointing products sales could leave an adverse impact on its financial results. Moreover, competition from various pharmaceutical and biotechnology companies is another matter of concern. Also, gaining approval for pipeline candidates has become more difficult with an increasingly stringent regulatory environment. However, regular partnerships have enhanced the company’s financial position. Nektar stands to receive significant sales milestone payment plus royalties for Movantik under the license agreement with AstraZeneca. Also, its recent co-development deal with Lilly for NKTR-358 is encouraging. Shares of the company have outperformed the industry in the last one year.”
A number of other research firms also recently weighed in on NKTR. Canaccord Genuity boosted their target price on Nektar Therapeutics from $35.00 to $50.00 and gave the stock a buy rating in a research report on Monday, November 13th. Canaccord Genuity Group boosted their price objective on Nektar Therapeutics from $35.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, November 15th. Mizuho boosted their price objective on Nektar Therapeutics from $30.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, November 14th. Roth Capital set a $45.00 price objective on Nektar Therapeutics and gave the company a buy rating in a research report on Monday, November 13th. Finally, JPMorgan Chase & Co. reiterated a buy rating and issued a $44.00 price objective on shares of Nektar Therapeutics in a research report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $38.08.
Nektar Therapeutics (NASDAQ:NKTR) traded up $2.12 during trading hours on Tuesday, reaching $72.00. The company had a trading volume of 1,904,300 shares, compared to its average volume of 2,717,111. The company has a market cap of $11,340.00, a P/E ratio of -101.41 and a beta of 1.81. Nektar Therapeutics has a one year low of $11.41 and a one year high of $73.95. The company has a quick ratio of 3.99, a current ratio of 4.14 and a debt-to-equity ratio of 2.91.
Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.16. The company had revenue of $152.90 million during the quarter, compared to the consensus estimate of $126.50 million. Nektar Therapeutics had a return on equity of 557.76% and a net margin of 39.80%. Nektar Therapeutics’s quarterly revenue was up 321.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.32) EPS. research analysts anticipate that Nektar Therapeutics will post -0.75 EPS for the current fiscal year.
In other news, Director Christopher A. Kuebler sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $58.66, for a total transaction of $1,759,800.00. Following the transaction, the director now directly owns 70,500 shares of the company’s stock, valued at $4,135,530. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Howard W. Robin sold 83,334 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $23.57, for a total value of $1,964,182.38. Following the transaction, the chief executive officer now directly owns 235,838 shares in the company, valued at $5,558,701.66. The disclosure for this sale can be found here. Insiders have sold 614,017 shares of company stock worth $20,587,527 over the last three months. Insiders own 5.44% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Nektar Therapeutics by 14.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 692 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Nektar Therapeutics during the third quarter valued at approximately $129,000. Mark Sheptoff Financial Planning LLC increased its stake in shares of Nektar Therapeutics by 79.4% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $146,000 after buying an additional 2,700 shares during the period. Flinton Capital Management LLC increased its stake in shares of Nektar Therapeutics by 75.7% during the second quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 3,392 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of Nektar Therapeutics by 78.7% during the second quarter. Riverhead Capital Management LLC now owns 8,754 shares of the biopharmaceutical company’s stock valued at $171,000 after buying an additional 3,854 shares during the period. 96.01% of the stock is currently owned by hedge funds and other institutional investors.
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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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