Invesco Advisers, Inc. recently announced the acquisition of new stake in Nektar Therapeutics (NASDAQ:NKTR). The institutional investor has increased its shareholding in the Healthcare company by 7.11% to 33.53 million shares with purchase of 2.23 million shares. This fresh investment now brings its stake to 18.84% valued currently at $776.54 million. In addition, PRIMECAP Management Co. raised its holdings by 0.4 million to 20.48 million shares. And Fidelity Management & Research Co. has lifted its position by 29.05% or 4.31 million shares – to 19.13 million shares.
With over 0.45 million Nektar Therapeutics (NKTR) shares trading Wednesday and a closing price of $23.76 on the day, the dollar volume was approximately $10.77 million. The shares have shown a negative weekly performance of -2.64% and its price on 07/22/20 lost nearly -1.04%. Currently, there are 177.19M common shares owned by the public and among those 176.64M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for NKTR have a consensus price objective of $27.23. The analysts have set the share’s price value over the next 12 months at a high of $43.00 and a low of $18.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Nektar Therapeutics stock is 2.20 for the next 12 months. The average price target is 23.87% above its last price level and an upside to the estimated low will see the stock lose -32.0% over that period. But an upside of 44.74% will see the stock hit the forecast high price target while mean target price for the stock is $26.00.
Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 1,027,167 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 487,083 shares.
The top 3 mutual fund holders in Nektar Therapeutics are Invesco Oppenheimer Global Opport, Vanguard Health Care Fund, and PRIMECAP Odyssey Aggressive Growt. Invesco Oppenheimer Global Opport owns 33.52 million shares of the company’s stock, all valued at over $776.39 million. The company bought an additional 2.22 million shares recently to bring their total holdings to about 18.83% of the shares outstanding. PRIMECAP Odyssey Aggressive Growt bought 0.28 million shares to bring its total holdings to over 11.44 million shares at a value of $264.91 million. PRIMECAP Odyssey Aggressive Growt now owns shares totaling to 6.43% of the shares outstanding.
Shares of Nektar Therapeutics (NASDAQ: NKTR) opened at $24.27, up $0.26 from a prior closing price of $24.01. However, the script later closed the day at $23.76, down -1.04%. The company’s stock has a 5-day price change of -2.64% and 23.13% over the past three months. NKTR shares are trading 11.23% year to date (YTD), with the 12-month market performance down to -25.18% lower. It has a 12-month low price of $13.63 and touched a high of $32.39 over the same period. Currently, 0.45 million shares have been traded, compared to an average intraday trading volume of 1.11 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.38%, 4.45%, and 15.50% respectively.
Institutional ownership of Nektar Therapeutics (NASDAQ: NKTR) shares accounts for 99.49% of the company’s 177.19M shares outstanding. Mutual fund holders own 22.38%, while other institutional holders and individual stakeholders account for 78.13% and 2.51% respectively.
It has a market capitalization of $4.20B and a beta (3y monthly) value of 1.98. The earnings-per-share (ttm) stands at -$2.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.98% over the week and 3.98% over the month.
Analysts forecast that Nektar Therapeutics (NKTR) will achieve an EPS of -$0.68 for the current quarter, -$0.58 for the next quarter and -$2.41 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.75 while analysts give the company a high EPS estimate of -$0.59. Comparatively, EPS for the current quarter was -$0.63 a year ago. Earnings per share for the fiscal year are expected to decrease by -166.60%, and 13.20% over the next financial year. EPS should grow at an annualized rate of -7.30% over the next five years, compared to -42.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Nektar Therapeutics (NKTR) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 7 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NKTR, a number of firms have released research notes about the stock. CFRA stated their Sell rating for the stock in a research note on June 10, 2020, with the firm’s price target at. H.C. Wainwright coverage for the Nektar Therapeutics (NKTR) stock in a research note released on May 12, 2020 offered a Neutral rating with a price target of $26. The Benchmark Company was of a view on April 22, 2020 that the stock is Buy, while Goldman gave the stock Neutral rating on March 30, 2020, issuing a price target of $18- $20. Barclays on their part issued Overweight rating on March 04, 2020.