Nektar Therapeutics (NASDAQ:NKTR) Expected to Post Earnings of -$0.85 Per Share

Equities research analysts predict that Nektar Therapeutics (NASDAQ:NKTR – Get Rating) will announce ($0.85) earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Nektar Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.61) and the lowest estimate coming in at ($1.15). Nektar Therapeutics posted earnings per share of ($0.69) in the same quarter last year, which would suggest a negative year-over-year growth rate of 23.2%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Nektar Therapeutics will report full year earnings of ($2.46) per share for the current year, with EPS estimates ranging from ($3.19) to ($2.16). For the next year, analysts forecast that the business will post earnings of ($1.25) per share, with EPS estimates ranging from ($2.28) to ($0.27). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Nektar Therapeutics.

Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last issued its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.23. Nektar Therapeutics had a negative return on equity of 65.64% and a negative net margin of 476.58%. The business had revenue of $24.82 million during the quarter, compared to analysts’ expectations of $24.89 million. During the same quarter in the previous year, the business earned ($0.68) EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis.

NKTR has been the subject of a number of research reports. William Blair cut Nektar Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, March 14th. JPMorgan Chase & Co. decreased their target price on Nektar Therapeutics from $24.00 to $17.00 in a report on Tuesday, March 1st. BTIG Research cut Nektar Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, March 14th. The Goldman Sachs Group cut Nektar Therapeutics from a “neutral” rating to a “sell” rating and set a $3.00 price target for the company. in a report on Monday, April 18th. Finally, Cowen cut 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 report on Monday, March 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Nektar Therapeutics has a consensus rating of “Hold” and an average target price of $13.46.

In related news, insider Jonathan Zalevsky sold 10,912 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $10.95, for a total transaction of $119,486.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Gil M. Labrucherie sold 7,579 shares of the company’s stock in a transaction that occurred 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. Over the last ninety days, insiders sold 38,186 shares of company stock worth $418,137. 2.91% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Bellevue Group AG increased its position in Nektar Therapeutics by 8.0% in the first quarter. Bellevue Group AG now owns 4,808,401 shares of the biopharmaceutical company’s stock worth $25,917,000 after buying an additional 356,708 shares during the period. Verition Fund Management LLC acquired a new stake in Nektar Therapeutics in the first quarter worth $55,000. Charles Schwab Investment Management Inc. increased its position in Nektar Therapeutics by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 947,937 shares of the biopharmaceutical company’s stock worth $5,109,000 after buying an additional 17,070 shares during the period. Edgestream Partners L.P. increased its position in Nektar Therapeutics by 1,457.7% in the first quarter. Edgestream Partners L.P. now owns 623,707 shares of the biopharmaceutical company’s stock worth $3,362,000 after buying an additional 583,667 shares during the period. Finally, First Trust Advisors LP increased its position in Nektar Therapeutics by 28.4% in the first quarter. First Trust Advisors LP now owns 4,390,618 shares of the biopharmaceutical company’s stock worth $23,665,000 after buying an additional 970,889 shares during the period. 93.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:NKTR opened at $3.99 on Friday. Nektar Therapeutics has a 1 year low of $3.52 and a 1 year high of $19.37. The stock has a market capitalization of $743.23 million, a P/E ratio of -1.49 and a beta of 1.36. The stock has a 50-day simple moving average of $5.49 and a 200-day simple moving average of $10.03.

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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