Mackenzie Financial Corp Has $1.13 Million Position in Nektar Therapeutics (NASDAQ:NKTR)

Key Points

• Mackenzie Financial Corp increased its stake in Nektar Therapeutics by 253.1%, owning over 1.6 million shares worth approximately $1.1 million.
• Nektar Therapeutics reported a disappointing earnings per share of ($3.30), missing analysts' estimates by ($0.60) with revenues of $10.46 million.
• Despite recent downgrades, several brokerages have upgraded Nektar Therapeutics, indicating a consensus price target of $88.33 with an average rating of "Moderate Buy."

Mackenzie Financial Corp boosted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 253.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,658,745 shares of the biopharmaceutical company's stock after acquiring an additional 1,188,976 shares during the quarter. Mackenzie Financial Corp owned approximately 0.89% of Nektar Therapeutics worth $1,128,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Securities LLC raised its holdings in shares of Nektar Therapeutics by 56.3% during the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 9,958 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Nektar Therapeutics by 6.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 192,978 shares of the biopharmaceutical company's stock valued at $180,000 after purchasing an additional 10,941 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Nektar Therapeutics by 0.9% during the 4th quarter. Northern Trust Corp now owns 1,414,984 shares of the biopharmaceutical company's stock valued at $1,316,000 after purchasing an additional 12,826 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Nektar Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 50,277 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 16,543 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Nektar Therapeutics by 26.5% during the 4th quarter. Wells Fargo & Company MN now owns 108,975 shares of the biopharmaceutical company's stock valued at $101,000 after purchasing an additional 22,822 shares in the last quarter. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Nektar Therapeutics Stock Performance

Shares of NASDAQ:NKTR traded up $1.31 on Friday, hitting $23.06. 912,008 shares of the company were exchanged, compared to its average volume of 717,890. The company's 50 day moving average price is $19.66 and its two-hundred day moving average price is $14.14. Nektar Therapeutics has a one year low of $6.45 and a one year high of $37.38. The firm has a market capitalization of $286.17 million, a price-to-earnings ratio of -2.62 and a beta of 0.95.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.13) by $0.18. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 380.63%. The company had revenue of $11.18 million for the quarter, compared to the consensus estimate of $9.42 million. Research analysts predict that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NKTR shares. B. Riley lifted their target price on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. William Blair reiterated a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. Jefferies Financial Group upgraded shares of Nektar Therapeutics from a "hold" rating to a "buy" rating and lifted their target price for the stock from $15.00 to $30.00 in a report on Friday, April 11th. Wall Street Zen downgraded shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Finally, BTIG Research lifted their target price on shares of Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.