Zacks Investment Research Downgrades Nektar Therapeutics (NASDAQ:NKTR) to Hold

Zacks Investment Research cut shares of Nektar Therapeutics (NASDAQ:NKTR) from a buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports. The firm currently has $34.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “Nektar has a promising pipeline with several candidates and regulatory updates lined up for the next several quarters. Moreover, regular partnerships have enhanced the company’s financial position. Nektar is poised to receive sales milestone payments plus royalties for Movantik, Adynovate and Neulasta, under license agreements with AstraZeneca, Takeda and Amgen, respectively. Its recent co-development deals with Lilly for NKTR-358 and Bristol-Myers for NKTR-214 are encouraging. The deals provide revenues and reduce expenses by sharing research costs. On the flip side, Nektar relies heavily on partners for revenues. Partnership-related setbacks may thus weigh heavily on the company’s results in the future. Loss estimates have narrowed ahead of the Q2 results. The company has a positive record of earnings surprises in the recent quarters.”

NKTR has been the subject of several other reports. BidaskClub cut Nektar Therapeutics from a sell rating to a strong sell rating in a report on Tuesday, July 16th. ValuEngine raised Nektar Therapeutics from a hold rating to a buy rating in a research report on Monday, June 3rd. Mizuho lowered their price target on Nektar Therapeutics from $81.00 to $79.00 and set a buy rating for the company in a research report on Friday, July 26th. Cowen set a $82.00 price target on Nektar Therapeutics and gave the company a buy rating in a research report on Thursday, June 13th. Finally, William Blair reaffirmed a buy rating on shares of Nektar Therapeutics in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $67.60.

NKTR stock traded down $0.10 during trading on Wednesday, hitting $31.09. 2,336,162 shares of the company traded hands, compared to its average volume of 1,457,576. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 8.22 and a beta of 2.68. Nektar Therapeutics has a 1 year low of $28.04 and a 1 year high of $69.76. The stock has a 50-day moving average of $33.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 14.94 and a quick ratio of 14.83.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.03. The company had revenue of $28.22 million during the quarter, compared to analysts’ expectations of $25.45 million. Nektar Therapeutics had a return on equity of 37.63% and a net margin of 55.65%. During the same period in the prior year, the business posted ($0.60) EPS. As a group, equities analysts predict that Nektar Therapeutics will post -3.13 earnings per share for the current fiscal year.

In other news, CEO Howard W. Robin sold 33,334 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $32.11, for a total value of $1,070,354.74. Following the completion of the transaction, the chief executive officer now owns 328,659 shares of the company’s stock, valued at approximately $10,553,240.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lutz Lingnau sold 10,000 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $34.63, for a total value of $346,300.00. Following the completion of the transaction, the director now directly owns 33,200 shares of the company’s stock, valued at approximately $1,149,716. The disclosure for this sale can be found here. Insiders have sold a total of 253,283 shares of company stock valued at $8,356,254 in the last ninety days. 4.02% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of Nektar Therapeutics by 150.2% in the 1st quarter. Meeder Asset Management Inc. now owns 798 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 479 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Nektar Therapeutics in the 1st quarter worth approximately $27,000. Kavar Capital Partners LLC bought a new position in shares of Nektar Therapeutics in the 2nd quarter worth approximately $44,000. Gemmer Asset Management LLC raised its position in shares of Nektar Therapeutics by 476.8% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,390 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 1,149 shares in the last quarter. Finally, Coastal Investment Advisors Inc. raised its position in shares of Nektar Therapeutics by 334.3% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,937 shares of the biopharmaceutical company’s stock worth $70,000 after acquiring an additional 1,491 shares in the last quarter. 92.14% of the stock is 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.

Further Reading: Bollinger Bands

Get a free copy of the Zacks research report on Nektar Therapeutics (NKTR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

Receive News & Ratings for Nektar Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nektar Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.