Nektar Therapeutics (NASDAQ:NKTR) Price Target Lowered to $35.00 at Piper Jaffray Companies

Nektar Therapeutics (NASDAQ:NKTR) had its price target lowered by Piper Jaffray Companies from $50.00 to $35.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock. Piper Jaffray Companies also issued estimates for Nektar Therapeutics’ Q1 2021 earnings at ($0.65) EPS, Q2 2021 earnings at ($0.70) EPS and Q3 2021 earnings at ($0.70) EPS.

NKTR has been the subject of a number of other reports. BMO Capital Markets decreased their price target on Nektar Therapeutics from $75.00 to $41.00 and set an outperform rating for the company in a research note on Friday, August 9th. Jefferies Financial Group lowered Nektar Therapeutics from a buy rating to a hold rating and decreased their price target for the stock from $59.00 to $23.00 in a research note on Friday, August 9th. William Blair reissued a buy rating on shares of Nektar Therapeutics in a research note on Thursday, September 26th. Oppenheimer assumed coverage on Nektar Therapeutics in a research note on Thursday, October 24th. They set a market perform rating and a $18.00 price target for the company. Finally, Evercore ISI reissued a hold rating and set a $37.00 price target on shares of Nektar Therapeutics in a research note on Sunday, August 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $34.57.

Shares of NASDAQ NKTR traded up $1.34 during trading on Thursday, hitting $20.04. The company had a trading volume of 3,963,600 shares, compared to its average volume of 2,359,833. The firm has a market capitalization of $3.25 billion, a P/E ratio of 5.30 and a beta of 2.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 13.97 and a current ratio of 14.09. The stock has a 50 day simple moving average of $17.90 and a 200 day simple moving average of $26.15. Nektar Therapeutics has a 12 month low of $15.64 and a 12 month high of $47.11.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.17. The firm had revenue of $29.22 million during the quarter, compared to analysts’ expectations of $26.42 million. Nektar Therapeutics had a negative return on equity of 25.25% and a negative net margin of 354.90%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.56) EPS. As a group, analysts predict that Nektar Therapeutics will post -2.85 EPS for the current year.

In other Nektar Therapeutics news, CFO Gil M. Labrucherie sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $15.83, for a total transaction of $395,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 12,551 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.15, for a total value of $227,800.65. Following the sale, the chief executive officer now owns 282,775 shares in the company, valued at approximately $5,132,366.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 169,328 shares of company stock worth $3,587,957. 4.02% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Capital Investment Advisory Services LLC grew its stake in Nektar Therapeutics by 1,566.7% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 940 shares during the last quarter. Kavar Capital Partners LLC acquired a new position in shares of Nektar Therapeutics in the 2nd quarter valued at about $44,000. Gemmer Asset Management LLC lifted its holdings 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 valued at $49,000 after buying an additional 1,149 shares during the period. Coastal Investment Advisors Inc. lifted its holdings 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 valued at $70,000 after buying an additional 1,491 shares during the period. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Nektar Therapeutics by 54.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 2,071 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 729 shares during the period. Institutional investors and hedge funds own 93.37% of the company’s stock.

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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