$23.38 Million in Sales Expected for Nektar Therapeutics (NASDAQ:NKTR) This Quarter

Wall Street brokerages expect Nektar Therapeutics (NASDAQ:NKTR – Get Rating) to report $23.38 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Nektar Therapeutics’ earnings. The lowest sales estimate is $21.29 million and the highest is $26.60 million. Nektar Therapeutics posted sales of $23.65 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.1%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Nektar Therapeutics will report full year sales of $125.83 million for the current fiscal year, with estimates ranging from $90.00 million to $188.00 million. For the next year, analysts anticipate that the firm will post sales of $244.76 million, with estimates ranging from $90.00 million to $852.67 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Nektar Therapeutics.

Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last announced its earnings results on Monday, February 28th. The biopharmaceutical company reported ($0.79) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.02. Nektar Therapeutics had a negative net margin of 514.03% and a negative return on equity of 61.98%. The company had revenue of $25.00 million for the quarter, compared to analysts’ expectations of $25.33 million. During the same period last year, the firm earned ($0.65) earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis.

Several research analysts have recently commented on the stock. Bank of America cut shares of Nektar Therapeutics from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $18.00 to $6.00 in a report on Monday, March 14th. JPMorgan Chase & Co. decreased their price objective on shares of Nektar Therapeutics from $24.00 to $17.00 in a research note on Tuesday, March 1st. Canaccord Genuity Group decreased their price objective on shares of Nektar Therapeutics from $25.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 16th. SVB Leerink decreased their price objective on shares of Nektar Therapeutics from $18.00 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 15th. Finally, Canaccord Genuity Group decreased their price objective on shares of Nektar Therapeutics from $25.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Nektar Therapeutics presently has an average rating of “Hold” and a consensus target price of $14.58.

Shares of NKTR traded up $0.09 during mid-day trading on Monday, hitting $5.60. 3,470,365 shares of the company’s stock were exchanged, compared to its average volume of 2,963,701. Nektar Therapeutics has a 52 week low of $3.88 and a 52 week high of $20.66. The stock’s 50-day simple moving average is $8.36 and its 200-day simple moving average is $12.08. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -1.96 and a beta of 1.29.

In other news, insider Jonathan Zalevsky sold 10,912 shares of Nektar Therapeutics stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $10.95, for a total transaction of $119,486.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John Northcott sold 4,852 shares of Nektar Therapeutics stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $10.95, for a total transaction of $53,129.40. The disclosure for this sale can be found here. Insiders sold 38,186 shares of company stock worth $418,137 in the last 90 days. Company insiders own 2.91% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in NKTR. Royal Bank of Canada lifted its holdings in Nektar Therapeutics by 155.7% in the second quarter. Royal Bank of Canada now owns 14,087 shares of the biopharmaceutical company’s stock valued at $242,000 after buying an additional 8,578 shares during the period. Bank of America Corp DE lifted its holdings in Nektar Therapeutics by 16.5% in the second quarter. Bank of America Corp DE now owns 130,880 shares of the biopharmaceutical company’s stock valued at $2,247,000 after buying an additional 18,506 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Nektar Therapeutics by 23.2% in the second quarter. Thrivent Financial for Lutherans now owns 59,679 shares of the biopharmaceutical company’s stock valued at $1,024,000 after buying an additional 11,246 shares during the period. Pacer Advisors Inc. lifted its holdings in Nektar Therapeutics by 49.4% in the third quarter. Pacer Advisors Inc. now owns 28,689 shares of the biopharmaceutical company’s stock valued at $515,000 after buying an additional 9,491 shares during the period. Finally, Franklin Street Advisors Inc. NC lifted its holdings in Nektar Therapeutics by 100.0% in the third quarter. Franklin Street Advisors Inc. NC now owns 31,000 shares of the biopharmaceutical company’s stock valued at $557,000 after buying an additional 15,500 shares during the period. Institutional investors and hedge funds own 91.96% of the company’s stock.

Nektar Therapeutics Company Profile (Get Rating)

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.

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