Rodman & Renshaw started coverage on shares of Nektar Therapeutics (NASDAQ:NKTR – Free Report) in a report released on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $2.00 price objective on the biopharmaceutical company’s stock.
A number of other brokerages also recently weighed in on NKTR. Jefferies Financial Group boosted their target price on shares of Nektar Therapeutics from $0.50 to $1.00 and gave the stock a hold rating in a report on Wednesday, March 6th. William Blair restated a market perform rating on shares of Nektar Therapeutics in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $3.00.
Check Out Our Latest Report on NKTR
Nektar Therapeutics Trading Down 1.6 %
Nektar Therapeutics (NASDAQ:NKTR – Get Free Report) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. The business had revenue of $21.64 million for the quarter, compared to the consensus estimate of $14.91 million. Nektar Therapeutics had a negative net margin of 195.02% and a negative return on equity of 107.31%. During the same period in the previous year, the company earned ($0.25) earnings per share. As a group, research analysts forecast that Nektar Therapeutics will post -0.84 earnings per share for the current year.
Insider Buying and Selling at Nektar Therapeutics
In other Nektar Therapeutics news, major shareholder Deep Track Capital, Lp sold 56,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $1.78, for a total value of $99,680.00. Following the transaction, the insider now directly owns 18,344,000 shares in the company, valued at $32,652,320. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Howard W. Robin sold 16,650 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $1.75, for a total value of $29,137.50. Following the transaction, the chief executive officer now directly owns 863,239 shares in the company, valued at $1,510,668.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Deep Track Capital, Lp sold 56,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $1.78, for a total transaction of $99,680.00. Following the completion of the transaction, the insider now owns 18,344,000 shares in the company, valued at $32,652,320. The disclosure for this sale can be found here. Insiders have sold a total of 99,505 shares of company stock worth $165,089 over the last ninety days. Insiders own 3.71% of the company’s stock.
Hedge Funds Weigh In On Nektar Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp acquired a new position in shares of Nektar Therapeutics in the fourth quarter valued at about $42,000. Citigroup Inc. grew its stake in shares of Nektar Therapeutics by 1,993.9% in the third quarter. Citigroup Inc. now owns 77,978 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 74,254 shares in the last quarter. SG Americas Securities LLC lifted its position in Nektar Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 101,687 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 23,829 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in Nektar Therapeutics during the first quarter worth about $63,000. Finally, Marquette Asset Management LLC lifted its position in Nektar Therapeutics by 25.5% during the fourth quarter. Marquette Asset Management LLC now owns 186,163 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 37,785 shares during the period. 75.88% of the stock is currently owned by institutional investors and hedge funds.
Nektar Therapeutics Company Profile
Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.
Further Reading
- Five stocks we like better than Nektar Therapeutics
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- How to Invest in Blue Chip Stocks
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- How to Evaluate a Stock Before Buying
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
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.