StockNews.com Downgrades Nektar Therapeutics (NASDAQ:NKTR) to Sell

Nektar Therapeutics (NASDAQ:NKTRGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Several other research analysts have also issued reports on NKTR. JPMorgan Chase & Co. decreased their target price on Nektar Therapeutics from $24.00 to $17.00 in a research report on Tuesday, March 1st. Oppenheimer downgraded Nektar Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 20th. Stifel Nicolaus downgraded Nektar Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $24.00 to $5.00 in a research note on Monday, March 14th. The Goldman Sachs Group downgraded Nektar Therapeutics from a “neutral” rating to a “sell” rating and set a $3.00 price target on the stock. in a research note on Monday, April 18th. Finally, Canaccord Genuity Group decreased their target price on Nektar Therapeutics from $25.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, March 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Nektar Therapeutics currently has an average rating of “Hold” and a consensus target price of $13.46.

Shares of NKTR opened at $3.64 on Wednesday. Nektar Therapeutics has a 1 year low of $3.30 and a 1 year high of $19.37. The firm has a market cap of $678.04 million, a PE ratio of -1.36 and a beta of 1.37. The stock’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $8.68.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.23. The firm had revenue of $24.82 million during the quarter, compared to analysts’ expectations of $24.89 million. Nektar Therapeutics had a negative return on equity of 65.64% and a negative net margin of 476.58%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.68) EPS. On average, equities analysts forecast that Nektar Therapeutics will post -2.31 EPS for the current year.

In related news, CFO Gil M. Labrucherie sold 17,448 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $3.95, for a total value of $68,919.60. Following the completion of the sale, the chief financial officer now owns 312,905 shares in the company, valued at approximately $1,235,974.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 36,529 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $3.95, for a total transaction of $144,289.55. Following the completion of the transaction, the chief executive officer now owns 620,941 shares of the company’s stock, valued at approximately $2,452,716.95. The disclosure for this sale can be found here. Insiders have sold a total of 84,627 shares of company stock worth $334,277 over the last 90 days. Insiders own 2.91% of the company’s stock.

Large investors have recently made changes to their positions in the company. Calton & Associates Inc. purchased a new stake in shares of Nektar Therapeutics in the first quarter valued at about $55,000. Verition Fund Management LLC acquired a new position in shares of Nektar Therapeutics during the first quarter worth about $55,000. Arete Wealth Advisors LLC acquired a new position in shares of Nektar Therapeutics during the first quarter worth about $59,000. Halbert Hargrove Global Advisors LLC acquired a new position in Nektar Therapeutics during the first quarter worth about $61,000. Finally, X Square Capital LLC acquired a new position in Nektar Therapeutics during the first quarter worth about $70,000. 93.08% of the stock is owned by institutional investors and hedge funds.

About Nektar Therapeutics (Get Rating)

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.

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Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

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