Nektar Therapeutics (NASDAQ:NKTR) Might be a Great Pick

[Zacks] Nektar Therapeutics (NASDAQ:NKTR) (TREND ANALYSISannounced the submission of an Investigational New Drug application (IND) to the FDA for NKTR-214.

A phase I/II study in patients with solid tumor malignancies is expected to be initiated by year end. Along with evaluating the safety, tolerability and efficacy of NKTR-214, the study will include expansion cohorts to evaluate the candidate, both as a monotherapy and in combination with a checkpoint inhibitor.

In addition to the phase I/II program, Nektar is looking to conduct translational research in collaboration with MD Anderson Cancer Center to identify predictive biomarkers that can be used for future development of NKTR-214.

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Nektar Therapeutics (NASDAQ:NKTR) stock is currently trading 35.31% below its 52-week-high, 23.8% above its 52-week-low. The 1-year stock price history is in the range of $9.16 – $17.53. Nektar Therapeutics (NKTR) has a price to earnings ratio of 241.28 versus Healthcare sector average of 44.16. NKTR stock price has underperformed the Nasdaq by 30.3%. The Drug Delivery Systems company is currently valued at $1.5 billion and its share price closed the last trading session at $11.34. The stock has a 50-day moving average of $11.52 and a 200-day moving average of $11.58.

Nektar Therapeutics (NKTR) current short interest stands at 0.04 million shares. It has decreased by 98% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.86 million shares, the number of days required to cover the short positions stand at 0.1 day.

The company is expected to announce next quarter earnings on November 05, at consensus estimate of $-0.36. Nektar Therapeutics (NKTR) reported last quarter earnings on August 05. The Drug Delivery Systems company announced earnings per share of $-0.4 against a consensus Street estimate of $-0.27, missing estimate by $0.13. This corresponds to a decrease of $0.01 compared to the same quarter of the previous fiscal year.

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There are currently seven analysts that cover Nektar Therapeutics stock. Of those seven, seven have a Buy rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $16.83.

A recent analyst activity consisted of Jefferies reiterating their Buy stance on March 18. Jefferies decreased price target from $17 to $14. This corresponds to a 23.46% upside from the last closing price. On the date of report, the stock closed at $12.51.

JP Morgan reiterated their Overweight stance on the same day, and decreased their price target from $19 to $17. This corresponds to a 49.91% upside from the last closing price. On the date of report, the stock closed at $12.51.

Company profile

Nektar Therapeutics is a clinical-stage biopharmaceutical company which develops a pipeline of drug candidates that utilize company platforms. The Company’s product pipeline is comprised of early to late stage drug candidates across a number of therapeutic areas including oncology, pain, anti-infectives, anti-viral and immunology.

Nektar Therapeutics (NASDAQ:NKTR) Might be a Great Pick was last modified: October 12th, 2015 by Kelly Rhodes