Nektar Therapeutics to Post FY2023 Earnings of ($1.22) Per Share, Oppenheimer Forecasts (NASDAQ:NKTR)

Nektar Therapeutics (NASDAQ:NKTR – Get Rating) – Oppenheimer increased their FY2023 EPS estimates for Nektar Therapeutics in a research note issued on Sunday, March 5th. Oppenheimer analyst J. Olson now forecasts that the biopharmaceutical company will post earnings per share of ($1.22) for the year, up from their prior estimate of ($1.26). Oppenheimer currently has a “Market Perform” rating and a $3.00 price target on the stock. The consensus estimate for Nektar Therapeutics’ current full-year earnings is ($0.91) per share. Oppenheimer also issued estimates for Nektar Therapeutics’ FY2024 earnings at ($1.13) EPS and FY2025 earnings at ($0.93) EPS.

Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.11. The company had revenue of $22.02 million during the quarter, compared to the consensus estimate of $22.21 million. Nektar Therapeutics had a negative return on equity of 76.92% and a negative net margin of 399.98%. Nektar Therapeutics’s revenue was down 11.9% on a year-over-year basis. During the same period last year, the company earned ($0.79) earnings per share.

Other analysts also recently issued reports about the company. Jefferies Financial Group downgraded Nektar Therapeutics from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $3.20 to $1.50 in a research report on Friday, February 24th. SVB Securities lowered their price target on Nektar Therapeutics from $5.00 to $3.00 in a research report on Friday, February 24th. The Goldman Sachs Group lowered their price target on Nektar Therapeutics from $3.00 to $2.00 and set a “sell” rating for the company in a research report on Monday, February 27th. Finally, SVB Leerink decreased their target price on Nektar Therapeutics from $5.00 to $3.00 and set a “market perform” rating for the company in a research report on Friday, February 24th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.50.

Nektar Therapeutics Stock Down 4.5 %

Shares of NKTR opened at $1.27 on Wednesday. The company has a market cap of $240.33 million, a PE ratio of -0.64 and a beta of 1.10. The business has a fifty day moving average of $2.43 and a 200 day moving average of $3.07. Nektar Therapeutics has a 52-week low of $1.23 and a 52-week high of $11.39.

Institutional Investors Weigh In On Nektar Therapeutics

Large investors have recently modified their holdings of the business. Delphia USA Inc. purchased a new stake in shares of Nektar Therapeutics during the second quarter worth about $65,000. Quantbot Technologies LP lifted its holdings in shares of Nektar Therapeutics by 1,537.9% during the third quarter. Quantbot Technologies LP now owns 47,596 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 44,690 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of Nektar Therapeutics by 19.2% during the third quarter. Mutual of America Capital Management LLC now owns 37,283 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 5,997 shares during the period. Klingman & Associates LLC acquired a new stake in shares of Nektar Therapeutics during the third quarter worth about $114,000. Finally, Vantage Consulting Group Inc acquired a new stake in shares of Nektar Therapeutics during the second quarter worth about $41,000. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Insider Activity

In other news, CFO Jillian B. Thomsen sold 10,267 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $3.00, for a total transaction of $30,801.00. Following the transaction, the chief financial officer now owns 313,497 shares in the company, valued at $940,491. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Nektar Therapeutics news, CFO Jillian B. Thomsen sold 10,267 shares of Nektar Therapeutics stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $3.00, for a total value of $30,801.00. Following the transaction, the chief financial officer now owns 313,497 shares in the company, valued at $940,491. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 10,484 shares of Nektar Therapeutics stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $3.00, for a total value of $31,452.00. Following the completion of the transaction, the insider now owns 303,179 shares in the company, valued at approximately $909,537. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,386 shares of company stock worth $121,158. Company insiders own 3.38% of the company’s stock.

About Nektar Therapeutics

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Nektar Therapeutics is a research-based biopharmaceutical company which engages in discovering and developing medicines in areas of unmet medical need. Its research and development pipeline of new investigational drugs includes therapies for oncology, immunology and virology. The firm focuses on using new chemistry approaches to make medicines to treat cancer and autoimmune diseases.