Nektar Therapeutics (NKTR) Receives Average Recommendation of “Buy” from Analysts

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Nektar Therapeutics (NASDAQ:NKTR) has been assigned an average rating of “Buy” from the fourteen ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $84.22.

Several research firms recently commented on NKTR. HC Wainwright set a $54.00 price target on shares of Nektar Therapeutics and gave the company a “hold” rating in a research report on Monday, October 22nd. Mizuho restated a “buy” rating and set a $81.00 price target on shares of Nektar Therapeutics in a research report on Wednesday, January 23rd. ValuEngine upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Zacks Investment Research lowered shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. Finally, BidaskClub upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th.

NKTR stock traded up $1.50 during midday trading on Wednesday, hitting $46.39. 80,970 shares of the stock traded hands, compared to its average volume of 1,415,252. The firm has a market cap of $7.77 billion, a PE ratio of -84.58 and a beta of 3.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.80 and a current ratio of 13.93. Nektar Therapeutics has a 1-year low of $29.22 and a 1-year high of $111.36.

In other news, CFO Gil M. Labrucherie sold 6,515 shares of Nektar Therapeutics stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $38.25, for a total value of $249,198.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Stephen K. Doberstein sold 4,524 shares of Nektar Therapeutics stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $38.25, for a total transaction of $173,043.00. Following the completion of the sale, the senior vice president now owns 78,734 shares in the company, valued at approximately $3,011,575.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,482 shares of company stock worth $4,768,122. Company insiders own 4.31% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NKTR. Daiwa Securities Group Inc. boosted its position in Nektar Therapeutics by 3.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,294 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 250 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Nektar Therapeutics by 4.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,278 shares of the biopharmaceutical company’s stock worth $371,000 after acquiring an additional 451 shares during the last quarter. Hartford Investment Management Co. boosted its position in Nektar Therapeutics by 2.4% during the fourth quarter. Hartford Investment Management Co. now owns 26,104 shares of the biopharmaceutical company’s stock worth $858,000 after acquiring an additional 623 shares during the last quarter. Empire Life Investments Inc. boosted its position in Nektar Therapeutics by 1.4% during the fourth quarter. Empire Life Investments Inc. now owns 56,057 shares of the biopharmaceutical company’s stock worth $1,843,000 after acquiring an additional 776 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Nektar Therapeutics by 0.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 224,568 shares of the biopharmaceutical company’s stock worth $7,382,000 after acquiring an additional 818 shares during the last quarter. Institutional investors and hedge funds own 91.26% 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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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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