HC Wainwright restated their hold rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research report report published on Tuesday, AnalystRatings.com reports.
“Our new 12-month, $24, vs. our prior $47 target on shares of Nektar is based on a 12-year DCF-driven, sum-of-the-parts analysis. Our DCF is driven by beta of 1.62, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 10.0%, and tax rate of 15% beginning in FY 2027.”,” the firm’s analyst commented.
Several other brokerages also recently weighed in on NKTR. Piper Jaffray Companies upped their target price on shares of Nektar Therapeutics from $50.00 to $100.00 and gave the stock an overweight rating in a research note on Friday, August 9th. Jefferies Financial Group downgraded shares of Nektar Therapeutics from a buy rating to a hold rating and cut their target price for the stock from $59.00 to $23.00 in a research note on Friday, August 9th. Mizuho downgraded shares of Nektar Therapeutics from a buy rating to a neutral rating and cut their target price for the stock from $79.00 to $21.00 in a research note on Friday, August 9th. JPMorgan Chase & Co. downgraded shares of Nektar Therapeutics from an overweight rating to a neutral rating and cut their target price for the stock from $62.00 to $33.00 in a research note on Friday, August 9th. Finally, Cfra set a $35.00 target price on shares of Nektar Therapeutics and gave the stock a hold rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $49.15.
Shares of NKTR opened at $18.85 on Tuesday. Nektar Therapeutics has a fifty-two week low of $17.50 and a fifty-two week high of $69.76. The business’s 50 day simple moving average is $31.37. The stock has a market cap of $3.29 billion, a P/E ratio of 4.99 and a beta of 2.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 14.83 and a current ratio of 14.94.
Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.17. Nektar Therapeutics had a negative net margin of 354.90% and a negative return on equity of 24.67%. The firm had revenue of $23.32 million for the quarter, compared to the consensus estimate of $26.65 million. During the same period in the prior year, the firm earned $5.33 EPS. The firm’s revenue for the quarter was down 97.9% on a year-over-year basis. As a group, research analysts predict that Nektar Therapeutics will post -3.13 earnings per share for the current year.
In other Nektar Therapeutics news, CAO Jillian B. Thomsen sold 1,928 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $31.37, for a total value of $60,481.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Howard W. Robin sold 33,334 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $32.11, for a total transaction of $1,070,354.74. Following the completion of the sale, the chief executive officer now directly owns 328,659 shares in the company, valued at $10,553,240.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,283 shares of company stock worth $8,356,254. Insiders own 4.02% of the company’s stock.
Several institutional investors have recently modified their holdings of NKTR. Meeder Asset Management Inc. boosted its stake in Nektar Therapeutics by 150.2% during the 1st quarter. Meeder Asset Management Inc. now owns 798 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 479 shares during the period. Quantamental Technologies LLC acquired a new stake in Nektar Therapeutics during the 1st quarter worth $27,000. Capital Investment Advisory Services LLC boosted its stake in Nektar Therapeutics by 1,566.7% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 1,000 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 940 shares during the period. Kavar Capital Partners LLC acquired a new stake in Nektar Therapeutics during the 2nd quarter worth $44,000. Finally, Gemmer Asset Management LLC boosted its stake in Nektar Therapeutics by 476.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,390 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 1,149 shares during the period. Institutional investors and hedge funds own 92.48% of the company’s stock.
About Nektar Therapeutics
Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.
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