Cowen Reiterates “$82.00” Price Target for Nektar Therapeutics (NASDAQ:NKTR)

Nektar Therapeutics (NASDAQ:NKTR) has been given a $82.00 price objective by equities research analysts at Cowen in a report issued on Thursday, TipRanks reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cowen’s price objective indicates a potential upside of 145.51% from the stock’s current price.

NKTR has been the topic of several other reports. BidaskClub upgraded shares of Nektar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, April 5th. BMO Capital Markets initiated coverage on shares of Nektar Therapeutics in a research report on Friday, February 22nd. They issued an “outperform” rating and a $75.00 price objective on the stock. Mizuho reiterated a “buy” rating and issued a $81.00 price objective on shares of Nektar Therapeutics in a research report on Friday, March 1st. HC Wainwright reiterated a “hold” rating and issued a $47.00 price objective on shares of Nektar Therapeutics in a research report on Tuesday, February 19th. Finally, TheStreet upgraded shares of Nektar Therapeutics from a “d+” rating to a “c” rating in a research report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Nektar Therapeutics currently has a consensus rating of “Buy” and an average target price of $68.50.

Nektar Therapeutics stock opened at $33.40 on Thursday. 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 has a 1 year low of $29.22 and a 1 year high of $69.76. The stock has a market capitalization of $5.93 billion, a PE ratio of 8.84 and a beta of 2.82.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $28.22 million for the quarter, compared to the consensus estimate of $25.45 million. During the same period last year, the firm posted ($0.60) EPS. On average, research analysts expect that Nektar Therapeutics will post -3.14 earnings per share for the current year.

In related news, CAO Jillian B. Thomsen sold 1,928 shares of Nektar Therapeutics stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $31.37, for a total value of $60,481.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Howard W. Robin sold 13,383 shares of Nektar Therapeutics stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $31.37, for a total transaction of $419,824.71. Following the completion of the sale, the chief executive officer now owns 295,326 shares in the company, valued at $9,264,376.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,949 shares of company stock worth $5,232,600. 4.31% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its stake in Nektar Therapeutics by 3.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,294 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 250 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in Nektar Therapeutics by 1.5% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 26,456 shares of the biopharmaceutical company’s stock valued at $889,000 after buying an additional 395 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in Nektar Therapeutics by 1.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 32,910 shares of the biopharmaceutical company’s stock valued at $1,082,000 after buying an additional 401 shares during the period. TD Asset Management Inc. increased its stake in Nektar Therapeutics by 0.5% during the 1st quarter. TD Asset Management Inc. now owns 84,241 shares of the biopharmaceutical company’s stock valued at $2,830,000 after buying an additional 427 shares during the period. Finally, Mason Street Advisors LLC increased its stake in Nektar Therapeutics by 1.8% during the 1st quarter. Mason Street Advisors LLC now owns 24,838 shares of the biopharmaceutical company’s stock valued at $835,000 after buying an additional 436 shares during the period. 92.28% of the stock is currently owned by hedge funds and other institutional investors.

About Nektar Therapeutics

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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