Zacks: Analysts Expect Nektar Therapeutics (NASDAQ:NKTR) Will Post Earnings of -$0.73 Per Share

Brokerages expect Nektar Therapeutics (NASDAQ:NKTR) to report ($0.73) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Nektar Therapeutics’ earnings, with estimates ranging from ($0.80) to ($0.67). Nektar Therapeutics reported earnings per share of ($0.45) during the same quarter last year, which would suggest a negative year over year growth rate of 62.2%. The firm is scheduled to announce its next earnings report on Thursday, August 5th.

According to Zacks, analysts expect that Nektar Therapeutics will report full year earnings of ($2.87) per share for the current year, with EPS estimates ranging from ($3.17) to ($1.93). For the next year, analysts expect that the firm will post earnings of ($1.76) per share, with EPS estimates ranging from ($3.47) to $0.22. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Nektar Therapeutics.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, May 6th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.04. Nektar Therapeutics had a negative net margin of 340.31% and a negative return on equity of 38.12%. The firm had revenue of $23.60 million during the quarter, compared to analysts’ expectations of $26.15 million. During the same quarter last year, the company posted ($0.78) earnings per share. The firm’s revenue was down 53.4% compared to the same quarter last year.

Several research analysts recently issued reports on NKTR shares. Mizuho reissued a “buy” rating on shares of Nektar Therapeutics in a report on Friday, May 7th. Benchmark reissued a “hold” rating and set a $26.00 target price on shares of Nektar Therapeutics in a report on Monday, March 1st. Finally, SVB Leerink cut their price objective on shares of Nektar Therapeutics from $21.00 to $20.00 and set a “market perform” rating for the company in a report on Monday, May 10th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $23.00.

Shares of Nektar Therapeutics stock opened at $17.84 on Tuesday. The business’s fifty day simple moving average is $18.78. Nektar Therapeutics has a 1 year low of $15.40 and a 1 year high of $26.75. The stock has a market capitalization of $3.25 billion, a PE ratio of -7.46 and a beta of 1.52.

In other news, SVP Mark Andrew Wilson sold 1,917 shares of the business’s stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $18.30, for a total transaction of $35,081.10. Following the completion of the sale, the senior vice president now owns 207,107 shares of the company’s stock, valued at $3,790,058.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Zalevsky sold 31,111 shares of the business’s stock in a transaction dated Monday, May 17th. The stock was sold at an average price of $18.30, for a total transaction of $569,331.30. Following the sale, the insider now directly owns 235,065 shares of the company’s stock, valued at approximately $4,301,689.50. The disclosure for this sale can be found here. Insiders sold 81,877 shares of company stock valued at $1,512,109 in the last ninety days. 2.91% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in NKTR. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Nektar Therapeutics by 11.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,057 shares of the biopharmaceutical company’s stock worth $375,000 after purchasing an additional 2,178 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Nektar Therapeutics by 5.7% during the fourth quarter. Victory Capital Management Inc. now owns 15,327 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 823 shares in the last quarter. First Trust Advisors LP boosted its position in Nektar Therapeutics by 26.2% during the fourth quarter. First Trust Advisors LP now owns 3,814,215 shares of the biopharmaceutical company’s stock worth $64,842,000 after acquiring an additional 791,605 shares during the last quarter. California Public Employees Retirement System boosted its position in Nektar Therapeutics by 24.1% during the fourth quarter. California Public Employees Retirement System now owns 450,529 shares of the biopharmaceutical company’s stock worth $7,659,000 after acquiring an additional 87,629 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in Nektar Therapeutics during the fourth quarter worth about $4,532,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Company Profile

Nektar Therapeutics operates as a biopharmaceutical company. The company researches and develops pipeline of investigational medicines in oncology, immunology, and virology, as well as a portfolio of approved partnered medicines. 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, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma 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 non-small cell lung cancer and immuno-oncology; and phase 1B clinical trial to treat COVID-19.It is also developing NKTR-358, 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; NKTR-255, an IL-15 receptor agonist, which is in phase 2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer and colorectal cancer; and NKTR-262, a toll-like receptor agonist that is in phase 1/2 clinical trial to treat locally advanced or metastatic solid tumor malignancies, as well as various other drug candidates.

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Earnings History and Estimates for Nektar Therapeutics (NASDAQ:NKTR)

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