Nektar Therapeutics (NKTR) Gets a Hold Rating from H.C. Wainwright


H.C. Wainwright analyst Debjit Chattopadhyay maintained a Hold rating on Nektar Therapeutics (NKTR) today and set a price target of $47. The company’s shares closed yesterday at $33.90, close to its 52-week low of $29.22.

Chattopadhyay commented:

“Our 12-month, $47 price target on shares of Nektar is based on a 12-year DCF-driven, sum-of- the-parts analysis. Our DCF is driven by beta of 1.28, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 9.0%, and tax rate of 15% beginning in FY 2023. Cancer together represent about 71% of our target. In RCC, we assume commercial adoption in patients with PD- L1 expression at <1% (about 67% of the total clear cell RCC opportunity)."

According to TipRanks.com, Chattopadhyay is a 2-star analyst with an average return of 0.1% and a 43.1% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Autolus Therapeutics Plc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nektar Therapeutics with a $77 average 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.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NKTR in relation to earlier this year. Most recently, in March 2019, Scott R. Greer, a Director at NKTR bought 10,000 shares for a total of $51,400.

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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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