Svb Leerink Initiates Coverage on Nektar Therapeutics (NKTR)
Investment analysts at Svb Leerink initiated coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report issued on Friday. The brokerage set a “mkt perform” rating and a $38.00 price target on the biopharmaceutical company’s stock. Svb Leerink’s target price indicates a potential upside of 6.95% from the company’s previous close.
NKTR has been the subject of a number of other reports. Zacks Investment Research cut shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, December 10th. BidaskClub lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Leerink Swann started coverage on shares of Nektar Therapeutics in a research note on Friday. They issued a “market perform” rating on the stock. TheStreet raised shares of Nektar Therapeutics from a “d+” rating to a “c” rating in a research report on Thursday, February 28th. Finally, ValuEngine downgraded shares of Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, February 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Nektar Therapeutics has a consensus rating of “Buy” and an average price target of $73.92.
NKTR stock opened at $35.53 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 17.53 and a quick ratio of 17.39. Nektar Therapeutics has a 12-month low of $29.22 and a 12-month high of $109.09. The company has a market cap of $6.19 billion, a PE ratio of 9.40 and a beta of 3.09.
In other news, COO John Nicholson sold 63,000 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $42.82, for a total transaction of $2,697,660.00. Following the completion of the sale, the chief operating officer now owns 237,477 shares in the company, valued at approximately $10,168,765.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jillian B. Thomsen sold 16,119 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $42.16, for a total transaction of $679,577.04. The disclosure for this sale can be found here. Insiders have sold a total of 241,824 shares of company stock valued at $10,249,993 over the last three months. 4.31% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NKTR. Acadian Asset Management LLC bought a new position in Nektar Therapeutics in the third quarter valued at approximately $646,000. Wells Fargo & Company MN raised its position in Nektar Therapeutics by 129.7% during the third quarter. Wells Fargo & Company MN now owns 414,142 shares of the biopharmaceutical company’s stock worth $25,246,000 after acquiring an additional 233,819 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Nektar Therapeutics by 148.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,876 shares of the biopharmaceutical company’s stock worth $724,000 after acquiring an additional 7,092 shares in the last quarter. Gabelli Funds LLC acquired a new position in shares of Nektar Therapeutics in the third quarter valued at $213,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Nektar Therapeutics by 21.3% in the third quarter. Commonwealth Equity Services LLC now owns 16,320 shares of the biopharmaceutical company’s stock valued at $994,000 after purchasing an additional 2,863 shares during the last quarter. 94.20% of the stock is currently owned by hedge funds and other institutional investors.
Nektar Therapeutics Company Profile
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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