Nektar Therapeutics (NKTR) Shares Gap Down to $33.90

Nektar Therapeutics (NASDAQ:NKTR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $35.12, but opened at $33.90. Nektar Therapeutics shares last traded at $31.34, with a volume of 4430956 shares trading hands.

A number of equities analysts have commented on the stock. Mizuho restated a “buy” rating and issued a $81.00 price target on shares of Nektar Therapeutics in a research report on Wednesday, January 23rd. ValuEngine downgraded shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. HC Wainwright reaffirmed a “hold” rating and issued a $47.00 target price on shares of Nektar Therapeutics in a research note on Tuesday, February 19th. BMO Capital Markets initiated coverage on shares of Nektar Therapeutics in a research note on Friday, February 22nd. They issued an “outperform” rating and a $75.00 target price for the company. Finally, TheStreet raised shares of Nektar Therapeutics from a “d+” rating to a “c” rating in a research note on Thursday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $69.73.

The firm has a market capitalization of $5.68 billion, a P/E ratio of 8.29 and a beta of 2.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 14.83 and a current ratio of 14.94.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.68) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.03. Nektar Therapeutics had a net margin of 55.65% and a return on equity of 37.63%. The business had revenue of $28.22 million during the quarter, compared to analysts’ expectations of $25.45 million. During the same quarter in the prior year, the company posted ($0.60) earnings per share. Equities research analysts forecast that Nektar Therapeutics will post -3.05 earnings per share for the current fiscal year.

In other news, CAO Jillian B. Thomsen sold 1,808 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $42.39, for a total value of $76,641.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maninder Hora sold 2,386 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $42.39, for a total transaction of $101,142.54. Following the completion of the transaction, the senior vice president now directly owns 99,374 shares in the company, valued at $4,212,463.86. The disclosure for this sale can be found here. Insiders sold 162,705 shares of company stock worth $6,872,756 over the last three months. Insiders own 4.31% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NKTR. Wellington Management Group LLP raised its position in shares of Nektar Therapeutics by 20.7% in the first quarter. Wellington Management Group LLP now owns 12,961,558 shares of the biopharmaceutical company’s stock valued at $435,507,000 after purchasing an additional 2,220,193 shares during the period. FMR LLC increased its stake in shares of Nektar Therapeutics by 8.5% in the 4th quarter. FMR LLC now owns 25,961,520 shares of the biopharmaceutical company’s stock valued at $853,355,000 after acquiring an additional 2,041,954 shares in the last quarter. Norges Bank bought a new stake in shares of Nektar Therapeutics in the 4th quarter valued at $63,723,000. Vanguard Group Inc increased its stake in shares of Nektar Therapeutics by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 18,922,650 shares of the biopharmaceutical company’s stock valued at $1,153,525,000 after acquiring an additional 660,907 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Nektar Therapeutics by 131.6% in the 4th quarter. Deutsche Bank AG now owns 947,004 shares of the biopharmaceutical company’s stock valued at $31,125,000 after acquiring an additional 538,170 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

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Nektar Therapeutics Company Profile (NASDAQ:NKTR)

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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