JPMorgan Chase & Co. began coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research report sent to investors on Monday, The Fly reports. The firm issued a neutral rating and a $26.00 price objective on the biopharmaceutical company’s stock.

Several other equities research analysts have also issued reports on NKTR. Cfra lowered Nektar Therapeutics from a hold rating to a sell rating in a research note on Wednesday, June 10th. BidaskClub lowered Nektar Therapeutics from a sell rating to a strong sell rating in a research note on Saturday, August 15th. SVB Leerink lowered their target price on Nektar Therapeutics from $18.00 to $17.00 and set a market perform rating for the company in a research note on Friday, August 14th. Mizuho began coverage on Nektar Therapeutics in a research note on Tuesday, May 26th. They issued a buy rating and a $35.00 target price for the company. Finally, Oppenheimer reissued a hold rating and issued a $25.00 target price on shares of Nektar Therapeutics in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $30.50.

Shares of NKTR stock opened at $20.31 on Monday. The business has a 50-day moving average price of $20.08 and a two-hundred day moving average price of $20.54. Nektar Therapeutics has a 12-month low of $13.63 and a 12-month high of $28.60. The firm has a market cap of $3.63 billion, a P/E ratio of -8.36 and a beta of 1.77.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.24. Nektar Therapeutics had a negative return on equity of 28.23% and a negative net margin of 264.38%. The firm had revenue of $48.85 million during the quarter, compared to analyst estimates of $22.76 million. During the same quarter in the previous year, the company posted ($0.63) earnings per share. The company’s revenue was up 109.5% compared to the same quarter last year. On average, equities analysts expect that Nektar Therapeutics will post -2.62 earnings per share for the current fiscal year.

In related news, CAO Jillian B. Thomsen sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $19.67, for a total value of $26,888.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Chess sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $18.53, for a total value of $148,240.00. Following the completion of the transaction, the director now directly owns 284,973 shares in the company, valued at $5,280,549.69. The disclosure for this sale can be found here. Insiders sold a total of 70,235 shares of company stock worth $1,452,400 in the last 90 days. 2.99% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in shares of Nektar Therapeutics by 7.2% during the 1st quarter. Invesco Ltd. now owns 33,921,398 shares of the biopharmaceutical company’s stock valued at $605,498,000 after buying an additional 2,292,264 shares during the period. Maverick Capital Ltd. lifted its holdings in shares of Nektar Therapeutics by 51.1% during the 1st quarter. Maverick Capital Ltd. now owns 4,898,401 shares of the biopharmaceutical company’s stock valued at $87,436,000 after buying an additional 1,657,167 shares during the period. First Trust Advisors LP lifted its holdings in shares of Nektar Therapeutics by 34.7% during the 2nd quarter. First Trust Advisors LP now owns 3,399,045 shares of the biopharmaceutical company’s stock valued at $78,722,000 after buying an additional 874,810 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Nektar Therapeutics by 336.3% during the 1st quarter. Nuveen Asset Management LLC now owns 578,965 shares of the biopharmaceutical company’s stock valued at $10,334,000 after buying an additional 446,271 shares during the period. Finally, Primecap Management Co. CA lifted its holdings in shares of Nektar Therapeutics by 2.0% during the 1st quarter. Primecap Management Co. CA now owns 20,482,919 shares of the biopharmaceutical company’s stock valued at $365,620,000 after buying an additional 402,571 shares during the period. 96.43% of the stock is currently owned by institutional investors and hedge funds.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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