Nektar Therapeutics (NASDAQ:NKTR) Downgraded by Mizuho to Neutral

Mizuho downgraded shares of Nektar Therapeutics (NASDAQ:NKTR) from a buy rating to a neutral rating in a report released on Friday, August 9th, BenzingaRatingsTable reports. They currently have $21.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $79.00.

NKTR has been the subject of a number of other reports. BidaskClub lowered shares of Nektar Therapeutics from a sell rating to a strong sell rating in a research note on Tuesday, July 16th. William Blair reaffirmed a buy rating on shares of Nektar Therapeutics in a research note on Friday, June 14th. Jefferies Financial Group lowered shares of Nektar Therapeutics from a buy rating to a hold rating and decreased their price target for the company from $59.00 to $23.00 in a research report on Friday, August 9th. Zacks Investment Research lowered shares of Nektar Therapeutics from a buy rating to a hold rating and set a $34.00 price target for the company. in a research report on Wednesday, July 31st. Finally, ValuEngine raised shares of Nektar Therapeutics from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $49.15.

NKTR stock opened at $18.19 on Friday. The firm’s fifty day simple moving average is $30.74 and its two-hundred day simple moving average is $34.28. The company has a current ratio of 14.09, a quick ratio of 14.83 and a debt-to-equity ratio of 0.22. Nektar Therapeutics has a twelve month low of $17.30 and a twelve month high of $69.76.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.17. The firm had revenue of $23.32 million for the quarter, compared to analysts’ expectations of $26.65 million. Nektar Therapeutics had a negative net margin of 354.90% and a negative return on equity of 25.25%. The business’s revenue for the quarter was down 97.9% on a year-over-year basis. During the same period in the prior year, the business posted $5.33 earnings per share. Analysts anticipate that Nektar Therapeutics will post -2.93 EPS for the current year.

In other news, CEO Howard W. Robin sold 33,333 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.93, for a total transaction of $1,097,655.69. Following the sale, the chief executive officer now owns 328,659 shares of the company’s stock, valued at approximately $10,822,740.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Howard W. Robin sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $33.00, for a total transaction of $3,300,000.00. Following the sale, the chief executive officer now directly owns 328,659 shares in the company, valued at approximately $10,845,747. The disclosure for this sale can be found here. In the last quarter, insiders sold 226,667 shares of company stock worth $7,521,310. 4.02% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Nektar Therapeutics by 82.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 408,526 shares of the biopharmaceutical company’s stock worth $13,433,000 after buying an additional 184,055 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Nektar Therapeutics in the 4th quarter valued at $183,000. State of Alaska Department of Revenue increased its position in shares of Nektar Therapeutics by 3.6% in the 1st quarter. State of Alaska Department of Revenue now owns 50,112 shares of the biopharmaceutical company’s stock valued at $1,682,000 after buying an additional 1,735 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd increased its position in shares of Nektar Therapeutics by 29.7% in the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 22,700 shares of the biopharmaceutical company’s stock valued at $763,000 after buying an additional 5,200 shares in the last quarter. Finally, Traynor Capital Management Inc. bought a new stake in shares of Nektar Therapeutics in the 1st quarter valued at $236,000. Institutional investors and hedge funds own 92.48% of the company’s stock.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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