Cowen reiterated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research note published on Thursday morning. The firm currently has a $86.00 target price on the biopharmaceutical company’s stock.

NKTR has been the subject of a number of other research reports. HC Wainwright restated a hold rating and issued a $54.00 price objective on shares of Nektar Therapeutics in a research note on Tuesday, July 31st. Zacks Investment Research upgraded shares of Nektar Therapeutics from a hold rating to a buy rating and set a $54.00 target price for the company in a research report on Monday, July 16th. Seaport Global Securities began coverage on shares of Nektar Therapeutics in a research report on Friday, April 20th. They set a buy rating and a $120.00 target price for the company. BidaskClub upgraded shares of Nektar Therapeutics from a hold rating to a buy rating in a research report on Tuesday, June 19th. Finally, Mizuho reiterated a buy rating and set a $103.00 target price on shares of Nektar Therapeutics in a research report on Thursday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $77.67.

NKTR stock traded up $0.38 during trading hours on Thursday, hitting $59.75. The company’s stock had a trading volume of 2,972,194 shares, compared to its average volume of 2,068,420. The company has a quick ratio of 4.03, a current ratio of 19.67 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 11.97 and a beta of 2.08. Nektar Therapeutics has a 12 month low of $17.51 and a 12 month high of $111.36.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Wednesday, August 8th. The biopharmaceutical company reported $5.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.22 by $0.11. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Nektar Therapeutics had a net margin of 65.69% and a return on equity of 174.70%. The business’s quarterly revenue was up 3043.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.39) EPS. research analysts expect that Nektar Therapeutics will post 3.41 EPS for the current fiscal year.

In related news, SVP Stephen K. Doberstein sold 3,435 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $83.39, for a total value of $286,444.65. Following the sale, the senior vice president now directly owns 63,959 shares in the company, valued at $5,333,541.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 27th. The shares were sold at an average price of $49.52, for a total value of $6,437,600.00. Following the completion of the sale, the chief executive officer now owns 267,690 shares in the company, valued at $13,256,008.80. The disclosure for this sale can be found here. Insiders sold 214,394 shares of company stock worth $11,846,101 over the last quarter. 4.31% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new position in shares of Nektar Therapeutics during the 4th quarter valued at about $5,485,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Nektar Therapeutics during the 4th quarter valued at about $219,000. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Nektar Therapeutics during the 1st quarter valued at about $850,000. Wells Fargo & Company MN raised its stake in shares of Nektar Therapeutics by 35.5% during the 1st quarter. Wells Fargo & Company MN now owns 217,518 shares of the biopharmaceutical company’s stock valued at $23,113,000 after buying an additional 56,995 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Nektar Therapeutics during the 1st quarter valued at about $111,000. Hedge funds and other institutional investors own 91.18% 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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