Nektar Therapeutics (NASDAQ:NKTR) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Nektar Therapeutics (NASDAQ:NKTRGet Rating) from a hold rating to a sell rating in a report published on Wednesday morning.

A number of other brokerages have also weighed in on NKTR. SVB Leerink cut their price objective on Nektar Therapeutics from $7.00 to $6.00 and set a market perform rating on the stock in a research report on Monday, April 18th. The Goldman Sachs Group lowered Nektar Therapeutics from a neutral rating to a sell rating and set a $3.00 price objective on the stock. in a research report on Monday, April 18th. Oppenheimer lowered Nektar Therapeutics from an outperform rating to a market perform rating in a research report on Wednesday, April 20th. Finally, Mizuho cut their price objective on Nektar Therapeutics from $8.00 to $6.00 and set a neutral rating on the stock in a research report on Monday, April 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Nektar Therapeutics currently has a consensus rating of Hold and an average target price of $13.17.

Nektar Therapeutics Stock Up 10.4 %

Shares of Nektar Therapeutics stock opened at $4.88 on Wednesday. The business’s 50 day simple moving average is $3.77 and its two-hundred day simple moving average is $6.04. Nektar Therapeutics has a one year low of $3.02 and a one year high of $19.37.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.85) EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.16. The business had revenue of $21.59 million for the quarter, compared to analysts’ expectations of $22.75 million. Nektar Therapeutics had a negative return on equity of 75.37% and a negative net margin of 544.77%. The business’s quarterly revenue was down 23.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.69) EPS. On average, research analysts predict that Nektar Therapeutics will post -2.31 EPS for the current fiscal year.

Insider Transactions at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 36,529 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $3.95, for a total value of $144,289.55. Following the completion of the transaction, the chief executive officer now owns 620,941 shares in the company, valued at $2,452,716.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Gil M. Labrucherie sold 17,448 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $3.95, for a total value of $68,919.60. Following the completion of the transaction, the chief financial officer now owns 312,905 shares in the company, valued at $1,235,974.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 36,529 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $3.95, for a total value of $144,289.55. Following the completion of the transaction, the chief executive officer now owns 620,941 shares of the company’s stock, valued at approximately $2,452,716.95. The disclosure for this sale can be found here. Insiders sold 84,627 shares of company stock worth $334,277 over the last quarter. 2.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Landscape Capital Management L.L.C. increased its position in Nektar Therapeutics by 97.1% during the second quarter. Landscape Capital Management L.L.C. now owns 27,412 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 13,506 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Nektar Therapeutics by 146.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 585,493 shares of the biopharmaceutical company’s stock valued at $2,225,000 after acquiring an additional 347,474 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Nektar Therapeutics by 964.1% during the second quarter. Nisa Investment Advisors LLC now owns 12,141 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 11,000 shares during the last quarter. Comerica Bank increased its position in Nektar Therapeutics by 2.4% during the second quarter. Comerica Bank now owns 158,666 shares of the biopharmaceutical company’s stock valued at $597,000 after acquiring an additional 3,745 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Nektar Therapeutics by 45.5% during the second quarter. ProShare Advisors LLC now owns 43,288 shares of the biopharmaceutical company’s stock valued at $165,000 after acquiring an additional 13,539 shares during the last quarter. Hedge funds and other institutional investors own 93.08% of the company’s stock.

Nektar Therapeutics Company Profile

(Get Rating)

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.

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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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