Cowen Reiterates “Buy” Rating for Nektar Therapeutics (NKTR)

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating restated by equities research analysts at Cowen in a report issued on Thursday. They presently have a $86.00 price target on the biopharmaceutical company’s stock. Cowen’s price target points to a potential upside of 139.69% from the company’s previous close.

NKTR has been the topic of a number of other research reports. ValuEngine raised Nektar Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Zacks Investment Research lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Piper Jaffray Companies set a $125.00 price objective on Nektar Therapeutics and gave the company a “buy” rating in a report on Wednesday, July 25th. HC Wainwright set a $54.00 price objective on Nektar Therapeutics and gave the company a “hold” rating in a report on Monday, October 22nd. Finally, BidaskClub lowered Nektar Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. Nektar Therapeutics currently has an average rating of “Buy” and an average target price of $79.55.

Shares of NASDAQ NKTR traded up $1.86 during mid-day trading on Thursday, reaching $35.88. 239,907 shares of the company traded hands, compared to its average volume of 2,617,408. The company has a debt-to-equity ratio of 0.14, a quick ratio of 19.55 and a current ratio of 13.93. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of -65.71 and a beta of 2.91. Nektar Therapeutics has a fifty-two week low of $31.37 and a fifty-two week high of $111.36.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.07. The business had revenue of $27.80 million for the quarter, compared to analyst estimates of $26.08 million. Nektar Therapeutics had a return on equity of 79.66% and a net margin of 59.71%. The firm’s revenue for the quarter was down 81.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 EPS. As a group, equities research analysts forecast that Nektar Therapeutics will post 3.66 earnings per share for the current year.

In other Nektar Therapeutics news, Director Jeffrey Robert Ajer sold 6,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $56.76, for a total value of $383,130.00. Following the sale, the director now owns 15,750 shares of the company’s stock, valued at approximately $893,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Scott Greer sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $67.39, for a total value of $673,900.00. Following the completion of the sale, the director now directly owns 140,333 shares in the company, valued at approximately $9,457,040.87. The disclosure for this sale can be found here. Insiders sold a total of 96,000 shares of company stock worth $5,825,680 in the last ninety days. Insiders own 4.31% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in shares of Nektar Therapeutics by 6.7% in the 2nd quarter. FMR LLC now owns 25,705,902 shares of the biopharmaceutical company’s stock worth $1,255,220,000 after acquiring an additional 1,608,834 shares during the period. BlackRock Inc. lifted its position in shares of Nektar Therapeutics by 3.7% in the 3rd quarter. BlackRock Inc. now owns 13,121,756 shares of the biopharmaceutical company’s stock worth $799,902,000 after acquiring an additional 463,152 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Nektar Therapeutics by 7.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 11,560,779 shares of the biopharmaceutical company’s stock worth $564,512,000 after acquiring an additional 845,257 shares during the period. First Trust Advisors LP lifted its position in shares of Nektar Therapeutics by 176.2% in the 3rd quarter. First Trust Advisors LP now owns 2,068,900 shares of the biopharmaceutical company’s stock worth $126,120,000 after acquiring an additional 1,319,776 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Nektar Therapeutics by 20.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,401,029 shares of the biopharmaceutical company’s stock worth $85,406,000 after acquiring an additional 241,111 shares during the period. Institutional investors own 92.72% of the company’s stock.

About Nektar Therapeutics

Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.

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