Canaccord Genuity Reaffirms “Buy” Rating for Nektar Therapeutics (NKTR)

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a research note issued on Wednesday, The Fly reports. They presently have a $80.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $50.00. Canaccord Genuity’s price objective indicates a potential upside of 17.60% from the stock’s current price.

A number of other brokerages also recently commented on NKTR. Mizuho boosted their target price on shares of Nektar Therapeutics from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Jefferies Group reiterated a “buy” rating and set a $35.00 target price on shares of Nektar Therapeutics in a research note on Wednesday, November 8th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $44.00 target price on shares of Nektar Therapeutics in a research note on Monday, November 13th. Zacks Investment Research downgraded shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Roth Capital set a $45.00 target price on shares of Nektar Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.08.

Shares of Nektar Therapeutics (NASDAQ NKTR) traded up $10.63 during mid-day trading on Wednesday, hitting $68.03. 5,984,400 shares of the company were exchanged, compared to its average volume of 2,297,083. The company has a current ratio of 4.14, a quick ratio of 3.99 and a debt-to-equity ratio of 2.91. The firm has a market capitalization of $10,710.00, a P/E ratio of -95.82 and a beta of 1.81. Nektar Therapeutics has a 12-month low of $11.41 and a 12-month high of $69.42.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. The firm had revenue of $152.90 million during the quarter, compared to the consensus estimate of $126.50 million. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The company’s revenue was up 321.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. equities analysts expect that Nektar Therapeutics will post -0.75 earnings per share for the current fiscal year.

In related news, Director Christopher A. Kuebler sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $58.66, for a total value of $1,759,800.00. Following the completion of the sale, the director now directly owns 70,500 shares of the company’s stock, valued at $4,135,530. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Stephen K. Doberstein sold 396,323 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $29.00, for a total transaction of $11,493,367.00. Following the completion of the sale, the senior vice president now directly owns 52,016 shares of the company’s stock, valued at $1,508,464. The disclosure for this sale can be found here. Over the last three months, insiders sold 614,017 shares of company stock valued at $20,587,527. 5.44% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NKTR. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Nektar Therapeutics by 14.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 692 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Nektar Therapeutics in the third quarter valued at about $129,000. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Nektar Therapeutics by 79.4% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $146,000 after buying an additional 2,700 shares during the last quarter. Flinton Capital Management LLC raised its holdings in shares of Nektar Therapeutics by 75.7% in the second quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 3,392 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in shares of Nektar Therapeutics by 78.7% in the second quarter. Riverhead Capital Management LLC now owns 8,754 shares of the biopharmaceutical company’s stock valued at $171,000 after buying an additional 3,854 shares during the last quarter. 96.01% of the stock is owned by hedge funds and other institutional investors.

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About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.

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