FY2023 Earnings Forecast for Nektar Therapeutics (NASDAQ:NKTR) Issued By Zacks Research

Nektar Therapeutics (NASDAQ:NKTR) – Equities researchers at Zacks Research boosted their FY2023 EPS estimates for shares of Nektar Therapeutics in a note issued to investors on Tuesday, October 31st. Zacks Research analyst K. Das now forecasts that the biopharmaceutical company will post earnings of ($0.73) per share for the year, up from their previous estimate of ($0.78). The consensus estimate for Nektar Therapeutics’ current full-year earnings is ($0.76) per share. Zacks Research also issued estimates for Nektar Therapeutics’ Q4 2023 earnings at ($0.11) EPS, Q1 2024 earnings at ($0.24) EPS, Q2 2024 earnings at ($0.25) EPS, Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.20) EPS, FY2024 earnings at ($0.93) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.28) EPS and FY2025 earnings at ($1.03) EPS.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. The business had revenue of $20.50 million for the quarter, compared to the consensus estimate of $20.94 million. Nektar Therapeutics had a negative net margin of 349.75% and a negative return on equity of 67.03%. During the same period in the previous year, the firm earned ($0.85) EPS.

Other equities research analysts also recently issued research reports about the company. StockNews.com assumed coverage on Nektar Therapeutics in a research report on Tuesday. They set a “hold” rating on the stock. Mizuho reissued a “neutral” rating and issued a $6.00 price target on shares of Nektar Therapeutics in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, Nektar Therapeutics has an average rating of “Hold” and an average target price of $3.00.

Nektar Therapeutics Stock Performance

NASDAQ NKTR opened at $0.49 on Thursday. The company has a market capitalization of $93.94 million, a P/E ratio of -0.30 and a beta of 0.88. Nektar Therapeutics has a one year low of $0.44 and a one year high of $4.37. The stock has a 50 day moving average price of $0.57 and a 200-day moving average price of $0.64.

Institutional Investors Weigh In On Nektar Therapeutics

A number of institutional investors have recently added to or reduced their stakes in NKTR. Deep Track Capital LP grew its holdings in shares of Nektar Therapeutics by 931.0% during the second quarter. Deep Track Capital LP now owns 17,973,464 shares of the biopharmaceutical company’s stock worth $10,338,000 after buying an additional 16,230,216 shares in the last quarter. Monaco Asset Management SAM bought a new position in Nektar Therapeutics during the 2nd quarter worth $5,327,000. Acadian Asset Management LLC lifted its holdings in Nektar Therapeutics by 597.5% during the 2nd quarter. Acadian Asset Management LLC now owns 4,396,020 shares of the biopharmaceutical company’s stock worth $2,528,000 after buying an additional 3,765,771 shares during the period. BlackRock Inc. lifted its holdings in Nektar Therapeutics by 11.0% during the 3rd quarter. BlackRock Inc. now owns 35,050,519 shares of the biopharmaceutical company’s stock worth $112,159,000 after buying an additional 3,477,606 shares during the period. Finally, State Street Corp lifted its stake in shares of Nektar Therapeutics by 50.5% in the 2nd quarter. State Street Corp now owns 8,728,968 shares of the biopharmaceutical company’s stock valued at $33,170,000 after purchasing an additional 2,928,666 shares during the period. 82.20% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 1B clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1/2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer squamous cell carcinoma and colorectal cancer.