Nektar Therapeutics (NKTR) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Nektar Therapeutics (NASDAQ:NKTR) saw an uptick in trading volume on Monday after Aegis raised their price target on the stock to $24.00. 15,334,116 shares were traded during mid-day trading, an increase of 1,150% from the previous session’s volume of 1,227,150 shares.The stock last traded at $22.11 and had previously closed at $15.50.

A number of other research analysts have also recently issued reports on NKTR. Roth Capital set a $23.00 price objective on shares of Nektar Therapeutics and gave the company a “buy” rating in a research note on Saturday, March 4th. BTIG Research began coverage on shares of Nektar Therapeutics in a research note on Friday, January 6th. They issued a “buy” rating and a $22.00 price objective on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 price objective (up from $15.00) on shares of Nektar Therapeutics in a research note on Friday, March 3rd. Finally, Piper Jaffray Companies set a $25.00 price objective on shares of Nektar Therapeutics and gave the company a “buy” rating in a research note on Monday, December 12th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Nektar Therapeutics presently has an average rating of “Buy” and an average price target of $22.86.

In related news, CFO Gil M. Labrucherie sold 200,000 shares of Nektar Therapeutics stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $15.16, for a total value of $3,032,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Howard W. Robin sold 87,500 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $12.35, for a total transaction of $1,080,625.00. Following the completion of the transaction, the chief executive officer now directly owns 265,408 shares in the company, valued at $3,277,788.80. The disclosure for this sale can be found here. Insiders sold 465,689 shares of company stock worth $6,389,028 over the last three months. 6.10% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Nektar Therapeutics by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 1,825,071 shares of the biopharmaceutical company’s stock worth $31,355,000 after buying an additional 56,079 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Nektar Therapeutics by 0.5% in the fourth quarter. New York State Teachers Retirement System now owns 255,224 shares of the biopharmaceutical company’s stock worth $3,132,000 after buying an additional 1,300 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Nektar Therapeutics by 6.1% in the third quarter. Wells Fargo & Company MN now owns 115,326 shares of the biopharmaceutical company’s stock worth $1,981,000 after buying an additional 6,604 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Nektar Therapeutics by 1.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,353,625 shares of the biopharmaceutical company’s stock worth $57,615,000 after buying an additional 61,918 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Nektar Therapeutics by 7.3% in the third quarter. BlackRock Fund Advisors now owns 10,970,974 shares of the biopharmaceutical company’s stock worth $188,481,000 after buying an additional 749,496 shares during the last quarter. 86.80% of the stock is currently owned by hedge funds and other institutional investors.

The company’s market cap is $3.40 billion. The firm has a 50 day moving average price of $13.78 and a 200-day moving average price of $14.35.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $0.02. The company earned $37.45 million during the quarter, compared to analysts’ expectations of $40.83 million. Nektar Therapeutics had a negative net margin of 98.87% and a negative return on equity of 8,769.15%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. Equities analysts expect that Nektar Therapeutics will post ($1.35) EPS for the current year.

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Nektar Therapeutics Company Profile

Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.

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