Nektar Therapeutics (NASDAQ:NKTR) Hits New 1-Year Low on Analyst Downgrade

Nektar Therapeutics (NASDAQ:NKTRGet Rating)’s share price reached a new 52-week low on Monday after The Goldman Sachs Group downgraded the stock from a neutral rating to a sell rating. The Goldman Sachs Group now has a $3.00 price target on the stock. Nektar Therapeutics traded as low as $3.78 and last traded at $4.00, with a volume of 245717 shares changing hands. The stock had previously closed at $6.16.

NKTR has been the subject of several other reports. BTIG Research cut shares of Nektar Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, March 14th. William Blair cut shares of Nektar Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, March 14th. Stifel Nicolaus cut shares of Nektar Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the company from $24.00 to $5.00 in a report on Monday, March 14th. Oppenheimer lowered shares of Nektar Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, March 14th. Finally, StockNews.com began coverage on shares of Nektar Therapeutics in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.46.

In related news, CEO Howard W. Robin sold 12,480 shares of the firm’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $10.95, for a total transaction of $136,656.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Zalevsky sold 10,912 shares of Nektar Therapeutics stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $10.95, for a total transaction of $119,486.40. The disclosure for this sale can be found here. Insiders have sold a total of 38,186 shares of company stock worth $418,137 over the last 90 days. 2.91% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of NKTR. Invesco Ltd. grew its position in Nektar Therapeutics by 3.4% in the 4th quarter. Invesco Ltd. now owns 36,891,494 shares of the biopharmaceutical company’s stock worth $498,405,000 after purchasing an additional 1,220,307 shares during the last quarter. BlackRock Inc. lifted its holdings in Nektar Therapeutics by 41.5% during the 4th quarter. BlackRock Inc. now owns 26,671,803 shares of the biopharmaceutical company’s stock valued at $360,336,000 after purchasing an additional 7,827,559 shares during the last quarter. Maverick Capital Ltd. lifted its holdings in Nektar Therapeutics by 1.3% during the 3rd quarter. Maverick Capital Ltd. now owns 5,838,426 shares of the biopharmaceutical company’s stock valued at $104,858,000 after purchasing an additional 77,353 shares during the last quarter. State Street Corp lifted its holdings in Nektar Therapeutics by 13.8% during the 4th quarter. State Street Corp now owns 5,291,548 shares of the biopharmaceutical company’s stock valued at $71,489,000 after purchasing an additional 642,435 shares during the last quarter. Finally, Bellevue Group AG raised its stake in shares of Nektar Therapeutics by 12.0% in the third quarter. Bellevue Group AG now owns 4,594,656 shares of the biopharmaceutical company’s stock worth $82,519,000 after acquiring an additional 493,252 shares during the last quarter. Institutional investors and hedge funds own 91.96% of the company’s stock.

The stock’s 50 day simple moving average is $8.02 and its two-hundred day simple moving average is $11.73. The company has a market capitalization of $730.19 million, a P/E ratio of -1.40 and a beta of 1.29.

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

Nektar Therapeutics Company Profile (NASDAQ:NKTR)

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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