Nektar Therapeutics (NKTR) Sees Strong Trading Volume

Nektar Therapeutics (NASDAQ:NKTR) shares saw unusually-high trading volume on Tuesday . Approximately 5,983,259 shares traded hands during trading, an increase of 161% from the previous session’s volume of 2,296,566 shares.The stock last traded at $68.03 and had previously closed at $57.40.

Several research firms have recently commented on NKTR. Canaccord Genuity restated a “buy” rating and set a $80.00 price objective (up from $50.00) on shares of Nektar Therapeutics in a research note on Wednesday. Zacks Investment Research lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. Mizuho reaffirmed a “buy” rating and issued a $45.00 target price (up from $30.00) on shares of Nektar Therapeutics in a research report on Wednesday, November 8th. Jefferies Group reaffirmed a “buy” rating and issued a $35.00 target price on shares of Nektar Therapeutics in a research report on Wednesday, November 8th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $44.00 target price on shares of Nektar Therapeutics in a research report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $38.08.

The company has a debt-to-equity ratio of 2.91, a current ratio of 4.14 and a quick ratio of 3.99. The company has a market capitalization of $10,850.00, a price-to-earnings ratio of -97.04 and a beta of 1.81.

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

In related news, CEO Howard W. Robin sold 83,334 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.57, for a total value of $1,964,182.38. Following the transaction, the chief executive officer now directly owns 235,838 shares of the company’s stock, valued at approximately $5,558,701.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stephen K. Doberstein sold 396,323 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $29.00, for a total value of $11,493,367.00. Following the completion of the transaction, the senior vice president now directly owns 52,016 shares in the company, valued at $1,508,464. The disclosure for this sale can be found here. Insiders have sold a total of 614,017 shares of company stock valued at $20,587,527 over the last ninety days. Company insiders own 5.44% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Tocqueville Asset Management L.P. grew its holdings in shares of Nektar Therapeutics by 8.5% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 252,202 shares of the biopharmaceutical company’s stock worth $6,053,000 after purchasing an additional 19,800 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Nektar Therapeutics by 9.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 952,443 shares of the biopharmaceutical company’s stock worth $18,620,000 after purchasing an additional 79,510 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Nektar Therapeutics by 2.3% during the 3rd quarter. California Public Employees Retirement System now owns 195,200 shares of the biopharmaceutical company’s stock worth $4,685,000 after purchasing an additional 4,300 shares in the last quarter. Piedmont Investment Advisors LLC grew its holdings in shares of Nektar Therapeutics by 264.6% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 33,545 shares of the biopharmaceutical company’s stock worth $656,000 after purchasing an additional 24,344 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Nektar Therapeutics by 1.8% during the 3rd quarter. Systematic Financial Management LP now owns 745,979 shares of the biopharmaceutical company’s stock worth $17,903,000 after purchasing an additional 12,949 shares in the last quarter. 96.01% of the stock is currently owned by 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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