Oppenheimer cut shares of Nektar Therapeutics (NASDAQ:NKTR – Get Rating) from an outperform rating to a market perform rating in a research note published on Monday, The Fly reports. Oppenheimer also issued estimates for Nektar Therapeutics’ FY2022 earnings at ($2.94) EPS, FY2023 earnings at ($2.49) EPS, FY2024 earnings at ($2.22) EPS and FY2025 earnings at ($1.65) EPS.
Several other brokerages have also commented on NKTR. William Blair lowered Nektar Therapeutics from an outperform rating to a market perform rating in a research report on Monday. Bank of America downgraded shares of Nektar Therapeutics from a neutral rating to an underperform rating and reduced their price objective for the stock from $18.00 to $6.00 in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Nektar Therapeutics from $24.00 to $17.00 in a research report on Tuesday, March 1st. Stifel Nicolaus cut shares of Nektar Therapeutics from a buy rating to a hold rating and reduced their price target for the stock from $24.00 to $5.00 in a report on Monday. Finally, BTIG Research lowered shares of Nektar Therapeutics from a buy rating to a neutral rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $14.58.
NASDAQ:NKTR opened at $4.63 on Monday. Nektar Therapeutics has a fifty-two week low of $3.88 and a fifty-two week high of $23.50. The company has a 50 day simple moving average of $10.63 and a two-hundred day simple moving average of $13.44. The company has a market capitalization of $862.45 million, a PE ratio of -1.62 and a beta of 1.31.
Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last announced its earnings results on Monday, February 28th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.02. The business had revenue of $25.00 million during the quarter, compared to the consensus estimate of $25.33 million. Nektar Therapeutics had a negative net margin of 514.03% and a negative return on equity of 61.98%. Nektar Therapeutics’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.65) earnings per share. As a group, research analysts expect that Nektar Therapeutics will post -2.63 EPS for the current fiscal year.
In related news, CEO Howard W. Robin sold 12,480 shares of the business’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $10.95, for a total transaction of $136,656.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Gil M. Labrucherie sold 7,579 shares of the company’s stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $10.95, for a total transaction of $82,990.05. The disclosure for this sale can be found here. Insiders sold 38,186 shares of company stock worth $418,137 in the last 90 days. Corporate insiders own 2.91% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in Nektar Therapeutics by 90.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 89,300 shares of the biopharmaceutical company’s stock worth $1,206,000 after acquiring an additional 42,400 shares during the period. Ieq Capital LLC bought a new stake in shares of Nektar Therapeutics during the 3rd quarter worth $294,000. Camber Capital Management LP boosted its holdings in shares of Nektar Therapeutics by 7.1% in the 3rd quarter. Camber Capital Management LP now owns 3,750,000 shares of the biopharmaceutical company’s stock worth $67,350,000 after buying an additional 250,000 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in Nektar Therapeutics by 7.3% during the third quarter. First Citizens Bank & Trust Co. now owns 14,832 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 1,012 shares during the period. Finally, Berman Capital Advisors LLC increased its holdings in Nektar Therapeutics by 4,029.6% during the third quarter. Berman Capital Advisors LLC now owns 2,230 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 2,176 shares during the last quarter. 91.96% of the stock is owned by institutional investors.
Nektar Therapeutics Company Profile (Get Rating)
Nektar Therapeutics is a research-based biopharmaceutical company that focuses on discovering and developing medicines in areas of unmet medical need. Its research and development pipeline of new investigational drugs includes therapies for oncology, immunology and virology. The firm focuses on using new chemistry approaches to make medicines to treat cancer and auto-immune disease.
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