Cowen & Co. Thinks Nektar Therapeutics’ Stock is Going to Recover


In a report released yesterday, Chris Shibutani from Cowen & Co. maintained a Buy rating on Nektar Therapeutics (NKTR), with a price target of $82. The company’s shares closed yesterday at $34.03, close to its 52-week low of $29.22.

According to TipRanks.com, Shibutani is a 3-star analyst with an average return of 2.4% and a 42.0% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Five Prime Therapeutics, and Pieris Pharmaceuticals.

Currently, the analyst consensus on Nektar Therapeutics is a Strong Buy with an average price target of $77.50, a 127.7% upside from current levels. In a report issued on June 2, Piper Jaffray also reiterated a Buy rating on the stock with a $100 price target.

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Based on Nektar Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $119 million. In comparison, last year the company had a GAAP net loss of $95.79 million.

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Nektar Therapeutics is a biopharmaceutical company, which engages in applying technology platforms to develop novel drug candidates. The company focuses on the therapies for cancer, autoimmune disease, and chronic pain. It operates through the United States and Europe geographical segments.

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