SVB Leerink Trims Nektar Therapeutics (NASDAQ:NKTR) Target Price to $6.00

Nektar Therapeutics (NASDAQ:NKTRGet Rating) had its target price cut by analysts at SVB Leerink from $7.00 to $6.00 in a report released on Monday, Benzinga reports. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. SVB Leerink’s price target would suggest a potential downside of 2.60% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Mizuho cut their price target on shares of Nektar Therapeutics from $8.00 to $6.00 in a report on Monday. Stifel Nicolaus cut Nektar Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $24.00 to $5.00 in a research note on Monday, March 14th. Cowen lowered Nektar Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $35.00 to $8.00 in a research note on Monday, March 14th. StockNews.com began coverage on Nektar Therapeutics in a report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Canaccord Genuity Group reduced their price objective on Nektar Therapeutics from $25.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Nektar Therapeutics has an average rating of “Hold” and an average price target of $14.33.

Shares of NASDAQ NKTR opened at $6.16 on Monday. The business has a fifty day moving average price of $8.02 and a two-hundred day moving average price of $11.73. The stock has a market capitalization of $1.15 billion, a PE ratio of -2.15 and a beta of 1.29. Nektar Therapeutics has a fifty-two week low of $3.88 and a fifty-two week high of $20.66.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last posted its quarterly earnings results on Monday, February 28th. The biopharmaceutical company reported ($0.79) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.81) by $0.02. Nektar Therapeutics had a negative return on equity of 61.98% and a negative net margin of 514.03%. The business had revenue of $25.00 million during the quarter, compared to the consensus estimate of $25.33 million. During the same quarter in the previous year, the firm earned ($0.65) earnings per share. Nektar Therapeutics’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts expect that Nektar Therapeutics will post -2.67 earnings per share for the current fiscal year.

In other news, insider Jonathan Zalevsky sold 10,912 shares of Nektar Therapeutics stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $10.95, for a total transaction of $119,486.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jillian B. Thomsen sold 2,363 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $10.95, for a total value of $25,874.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,186 shares of company stock worth $418,137. Company insiders own 2.91% of the company’s stock.

Several institutional investors have recently bought and sold shares of NKTR. New York State Common Retirement Fund increased its position in Nektar Therapeutics by 0.4% during the 3rd quarter. New York State Common Retirement Fund now owns 200,778 shares of the biopharmaceutical company’s stock valued at $3,606,000 after purchasing an additional 778 shares during the period. Arizona State Retirement System boosted its stake in shares of Nektar Therapeutics by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 49,660 shares of the biopharmaceutical company’s stock valued at $892,000 after purchasing an additional 895 shares during the last quarter. KBC Group NV increased its position in shares of Nektar Therapeutics by 17.3% during the fourth quarter. KBC Group NV now owns 8,572 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 1,264 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Nektar Therapeutics by 2.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 55,500 shares of the biopharmaceutical company’s stock worth $786,000 after buying an additional 1,500 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Nektar Therapeutics by 0.4% in the fourth quarter. Swiss National Bank now owns 404,400 shares of the biopharmaceutical company’s stock valued at $5,463,000 after buying an additional 1,600 shares during the period. 91.96% of the stock is currently owned by institutional investors.

Nektar Therapeutics Company Profile (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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