Nektar Therapeutics (NASDAQ:NKTR) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Nektar Therapeutics (NASDAQ:NKTR) from a hold rating to a sell rating in a research report released on Saturday morning.

NKTR has been the subject of several other reports. TD Cowen began coverage on Nektar Therapeutics in a research note on Tuesday, March 17th. They set a “buy” rating for the company. Piper Sandler raised their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. HC Wainwright increased their target price on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, B. Riley Financial restated a “buy” rating and issued a $150.00 target price (up from $105.00) on shares of Nektar Therapeutics in a report on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nektar Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $151.50.

Nektar Therapeutics Stock Down 1.8%

NKTR opened at $81.89 on Friday. The firm has a market cap of $2.76 billion, a PE ratio of -9.73 and a beta of 1.24. The business has a fifty day simple moving average of $77.37 and a 200-day simple moving average of $60.96. Nektar Therapeutics has a fifty-two week low of $7.99 and a fifty-two week high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The company had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative return on equity of 308.94% and a negative net margin of 284.18%. On average, equities research analysts anticipate that Nektar Therapeutics will post -10.02 EPS for the current fiscal year.

Insider Activity

In other news, CEO Howard W. Robin sold 423 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total value of $30,879.00. Following the completion of the sale, the chief executive officer owned 75,489 shares in the company, valued at $5,510,697. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by insiders.

Institutional Trading of Nektar Therapeutics

Hedge funds have recently modified their holdings of the business. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Nektar Therapeutics during the third quarter worth $13,269,000. Emerald Advisers LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter worth $18,393,000. Farallon Capital Management LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter worth $45,008,000. Readystate Asset Management LP purchased a new stake in shares of Nektar Therapeutics during the third quarter worth $2,563,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Nektar Therapeutics during the third quarter worth $6,127,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Key Nektar Therapeutics News

Here are the key news stories impacting Nektar Therapeutics this week:

• Positive Sentiment: Piper Sandler raised its price target on Nektar Therapeutics to $192 from $105 and kept an overweight rating, signaling stronger upside expectations for the stock.
• Positive Sentiment: William Blair reiterated a bullish view, citing Nektar’s strong cash position and late-stage autoimmune pipeline as reasons the risk/reward profile remains attractive.
• Positive Sentiment: Investors remain focused on REZPEG, which the company continues to advance in late-stage studies for autoimmune diseases and could be the main long-term value driver.
• Neutral Sentiment: In its first-quarter results, Nektar reported cash and investments of $731.6 million, up sharply from $245.8 million at year-end, improving its balance-sheet flexibility.
• Negative Sentiment: The company reported adjusted losses of $1.82 per share, missing Wall Street expectations, while revenue of $10.86 million also came in slightly below estimates.
• Negative Sentiment: A newly filed class action lawsuit against Nektar and certain officers adds legal overhang and may weigh on investor sentiment until there is more clarity.

Nektar Therapeutics Company Profile

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.