Nektar Therapeutics (NASDAQ:NKTR) SVP Stephen K. Doberstein sold 1,701 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $19.55, for a total value of $33,254.55. Following the transaction, the senior vice president now owns 32,803 shares of the company’s stock, valued at $641,298.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Nektar Therapeutics (NASDAQ:NKTR) traded up 1.74% during midday trading on Monday, hitting $19.28. The company had a trading volume of 890,605 shares. The company’s market cap is $2.99 billion. Nektar Therapeutics has a one year low of $11.41 and a one year high of $24.88. The company’s 50 day moving average is $19.20 and its 200-day moving average is $15.48.
Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.02. Nektar Therapeutics had a negative return on equity of 8,769.15% and a negative net margin of 98.87%. The firm had revenue of $24.73 million for the quarter, compared to analyst estimates of $29.43 million. During the same period in the previous year, the business posted ($0.14) EPS. Nektar Therapeutics’s revenue for the quarter was down 58.0% compared to the same quarter last year. On average, equities analysts predict that Nektar Therapeutics will post ($1.19) EPS for the current year.
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Several hedge funds have recently made changes to their positions in NKTR. BlackRock Inc. raised its stake in shares of Nektar Therapeutics by 180,432.9% in the first quarter. BlackRock Inc. now owns 20,035,546 shares of the biopharmaceutical company’s stock valued at $470,234,000 after buying an additional 20,024,448 shares during the last quarter. Camber Capital Management LLC raised its stake in shares of Nektar Therapeutics by 87.5% in the fourth quarter. Camber Capital Management LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock valued at $73,620,000 after buying an additional 2,800,000 shares during the last quarter. Norges Bank purchased a new stake in shares of Nektar Therapeutics during the fourth quarter valued at $31,574,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Nektar Therapeutics during the first quarter valued at $23,580,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Nektar Therapeutics during the first quarter valued at $23,580,000. 86.80% of the stock is currently owned by institutional investors.
NKTR has been the subject of several research analyst reports. Aegis increased their target price on Nektar Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, March 20th. Roth Capital set a $31.00 target price on Nektar Therapeutics and gave the company a “buy” rating in a research note on Monday, March 20th. Jefferies Group LLC reiterated a “buy” rating and set a $17.00 target price (up from $15.00) on shares of Nektar Therapeutics in a research note on Friday, March 3rd. Zacks Investment Research upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, March 27th. Finally, JPMorgan Chase & Co. set a $24.00 target price on Nektar Therapeutics and gave the company a “buy” rating in a research note on Tuesday, March 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $25.25.
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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