Q1 2022 EPS Estimates for Nektar Therapeutics Raised by Analyst (NASDAQ:NKTR)

Nektar Therapeutics (NASDAQ:NKTR – Get Rating) – Research analysts at William Blair raised their Q1 2022 earnings estimates for shares of Nektar Therapeutics in a research note issued on Tuesday, April 26th. William Blair analyst A. Hsieh now forecasts that the biopharmaceutical company will post earnings per share of ($0.68) for the quarter, up from their prior forecast of ($0.87). William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for Nektar Therapeutics’ Q2 2022 earnings at ($0.82) EPS, Q3 2022 earnings at ($0.40) EPS, Q4 2022 earnings at ($0.31) EPS, FY2022 earnings at ($2.21) EPS, Q1 2023 earnings at ($0.27) EPS, Q2 2023 earnings at ($0.28) EPS, Q3 2023 earnings at ($0.28) EPS, Q4 2023 earnings at ($0.29) EPS, FY2023 earnings at ($1.12) EPS and FY2024 earnings at ($1.19) EPS.

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

NKTR has been the topic of a number of other research reports. Bank of America lowered Nektar Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $18.00 to $6.00 in a report on Monday, March 14th. Mizuho lowered their price objective on Nektar Therapeutics from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, April 18th. JPMorgan Chase & Co. decreased their price target on Nektar Therapeutics from $24.00 to $17.00 in a research note on Tuesday, March 1st. Cowen lowered Nektar Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $35.00 to $8.00 in a research note on Monday, March 14th. Finally, The Goldman Sachs Group lowered Nektar Therapeutics from a “neutral” rating to a “sell” rating and set a $3.00 price target on the stock. in a research note on Monday, April 18th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Nektar Therapeutics currently has an average rating of “Hold” and an average target price of $13.46.

Shares of NKTR opened at $4.26 on Thursday. Nektar Therapeutics has a twelve month low of $3.78 and a twelve month high of $20.66. The stock’s 50 day moving average is $6.99 and its two-hundred day moving average is $11.00. The firm has a market capitalization of $793.53 million, a PE ratio of -1.49 and a beta of 1.29.

In other Nektar Therapeutics news, CEO Howard W. Robin sold 12,480 shares of the business’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $10.95, for a total value of $136,656.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gil M. Labrucherie sold 7,579 shares of the business’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $10.95, for a total value of $82,990.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,186 shares of company stock worth $418,137. 2.91% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Nektar Therapeutics by 41.5% in the 4th quarter. BlackRock Inc. now owns 26,671,803 shares of the biopharmaceutical company’s stock valued at $360,336,000 after purchasing an additional 7,827,559 shares in the last quarter. Norges Bank purchased a new position in Nektar Therapeutics in the 4th quarter valued at about $23,878,000. Invesco Ltd. boosted its position in Nektar Therapeutics by 3.4% in the 4th quarter. Invesco Ltd. now owns 36,891,494 shares of the biopharmaceutical company’s stock valued at $498,405,000 after buying an additional 1,220,307 shares during the last quarter. Woodline Partners LP purchased a new position in Nektar Therapeutics in the 4th quarter valued at about $13,329,000. Finally, State Street Corp boosted its position in Nektar Therapeutics by 13.8% in the 4th quarter. State Street Corp now owns 5,291,548 shares of the biopharmaceutical company’s stock valued at $71,489,000 after buying an additional 642,435 shares during the last quarter. Institutional investors own 91.96% of the company’s stock.

About Nektar Therapeutics (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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