Trade Report: Today, Jefferies Group Raises Nektar Therapeutics (NKTR) Price Target to $15.00

Today, Jefferies Group Raises Nektar Therapeutics (NKTR) Price Target to $15.00

Nektar Therapeutics (NASDAQ:NKTR) had its price objective increased by equities research analysts at Jefferies Group from $14.00 to $15.00 in a research note issued on Monday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Group’s price objective would indicate a potential upside of 11.28% from the stock’s current price.

Several other analysts have also issued reports on NKTR. Zacks Investment Research upgraded shares of Nektar Therapeutics from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Tuesday, July 19th. Brean Capital restated a “buy” rating and set a $23.00 price target on shares of Nektar Therapeutics in a research report on Friday, September 30th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $21.00 price target (up from $17.00) on shares of Nektar Therapeutics in a research report on Friday, August 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Nektar Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $20.50.

Shares of Nektar Therapeutics (NASDAQ:NKTR) traded up 1.58% during mid-day trading on Monday, reaching $13.48. The company had a trading volume of 386,957 shares. Nektar Therapeutics has a 12-month low of $10.52 and a 12-month high of $19.98. The firm has a 50-day moving average of $13.84 and a 200-day moving average of $15.68. The company’s market capitalization is $2.06 billion.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.04. The business had revenue of $36.30 million for the quarter, compared to analysts’ expectations of $32.42 million. Nektar Therapeutics had a negative return on equity of 8,769.15% and a negative net margin of 98.87%. The firm’s revenue was down 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. On average, equities analysts anticipate that Nektar Therapeutics will post ($1.07) earnings per share for the current fiscal year.

In related news, CEO Howard W. Robin sold 93,458 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $13.88, for a total value of $1,297,197.04. Following the completion of the transaction, the chief executive officer now directly owns 122,908 shares of the company’s stock, valued at $1,705,963.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director R Scott Greer purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was bought at an average cost of $13.50 per share, with a total value of $202,500.00. Following the completion of the purchase, the director now owns 121,333 shares of the company’s stock, valued at $1,637,995.50. The disclosure for this purchase can be found here. Insiders own 6.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Bridger Management LLC bought a new position in Nektar Therapeutics during the first quarter worth about $48,359,000. Cormorant Asset Management LLC increased its position in Nektar Therapeutics by 161.4% in the first quarter. Cormorant Asset Management LLC now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $27,500,000 after buying an additional 1,234,844 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Nektar Therapeutics during the second quarter worth about $17,247,000. BlackRock Fund Advisors increased its position 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. Finally, Price T Rowe Associates Inc. MD increased its position in Nektar Therapeutics by 97.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,156,400 shares of the biopharmaceutical company’s stock worth $19,867,000 after buying an additional 571,900 shares during the last quarter. 86.69% of the stock is owned by institutional investors.

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