Nektar Therapeutics (NKTR - Free Report) was a big mover last session, as the company saw its shares rise more than 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $69.40 –$88.74 in the past one-month time frame, witnessed a sharp increase yesterday.
The stock gained after the company reported that it has entered into a multibillion-dollar deal with Bristol-Myers Squibb for global development and commercialization for NKTR-214 in combination with the latter’s Opdivo (nivolumab) and Opdivo plus Yervoy (ipilimumab).
The company has seen one negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Nektar currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Investors interested in the Medical - Drugs industry may consider BioSpecifics Technologies Corp. (BSTC - Free Report) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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