Nektar Therapeutics (NASDAQ:NKTR) Releases Quarterly Earnings Results, Beats Expectations By $0.74 EPS

Nektar Therapeutics (NASDAQ:NKTR) released its earnings results on Thursday. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.74, FiscalAI reports. The company had revenue of $10.13 million for the quarter, compared to analysts’ expectations of $10.43 million. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 62.56%.

Here are the key takeaways from Nektar Therapeutics’ conference call:

• REZPEG’s phase III atopic dermatitis program has begun, with two studies already randomizing patients and a treatment-experienced study expected to start by the end of September. Top-line data are anticipated in mid-2028, with a potential BLA submission in 2029 if results are positive.
• Nektar received FDA alignment on a single registrational phase III study in alopecia areata, which is planned to begin in early 2027 and enroll 850 patients. The company expects data in the second half of 2029 and believes REZPEG’s safety profile and twice-monthly injectable dosing could differentiate it from daily oral JAK inhibitors.
• Management highlighted phase IIb findings and physician research suggesting durable and deepening responses, including complete skin clearance, quarterly maintenance dosing, no observed conjunctivitis, and no increased infection risk in atopic dermatitis. The company believes the novel Treg mechanism could support first-line as well as later-line use.
• Nektar ended the quarter with $1.02 billion in cash and investments and no debt, extending its cash runway into the third quarter of 2028. Year-end 2026 cash guidance was raised to $815 million–$840 million, although R&D spending is expected to rise as phase III trials and manufacturing activities advance.

Nektar Therapeutics Stock Performance

Shares of NASDAQ NKTR opened at $73.02 on Friday. The company has a market cap of $2.47 billion, a P/E ratio of -10.90 and a beta of 1.14. The firm’s fifty day moving average is $67.98 and its two-hundred day moving average is $69.05. Nektar Therapeutics has a 52-week low of $25.34 and a 52-week high of $109.00.

Key Stories Impacting Nektar Therapeutics

Here are the key news stories impacting Nektar Therapeutics this week:

• Positive Sentiment: Quarterly loss beat expectations: Nektar reported a second-quarter loss of $1.23 per share, substantially better than analysts’ expected loss of roughly $1.97–$2.06 per share. The loss also improved from $2.78 per share a year earlier. Nektar Therapeutics Reports Second-Quarter Loss
• Positive Sentiment: Strong liquidity supports development: Cash and marketable securities totaled $1.023 billion at June 30, up from $245.8 million at the end of 2025. This provides substantial funding for the company’s late-stage immunology programs. Nektar Second-Quarter 2026 Financial Results
• Positive Sentiment: REZPEG pipeline advances: Nektar began the first two global registrational Phase 3 ZENITH AD studies in July for moderate-to-severe atopic dermatitis. The company plans to begin a Phase 3 alopecia areata study in early 2027, with initial Phase 3 data expected in mid-2028. Some analysts maintain a Strong Buy view based on REZPEG’s potential in a large autoimmune-disease market. Nektar Strong Buy Rating and REZPEG Catalyst
• Neutral Sentiment: Higher research spending: Second-quarter research and development expense rose to $39.1 million from $29.9 million as Nektar progresses its clinical programs, while general and administrative expense declined to $12.8 million from $17.1 million. Nektar Second-Quarter Loss and Revenue
• Negative Sentiment: Revenue missed estimates: Quarterly revenue was $10.1 million, below the $10.4 million consensus and down from $11.2 million a year earlier. Nektar remains unprofitable, reporting a $40.6 million quarterly net loss and a negative net margin.
• Negative Sentiment: Insider selling adds caution: Reported insider transactions over the past six months included 10 sales and no purchases, including sales by the CEO and chief R&D officer. This may reinforce investor concerns about valuation and execution risk.

Insider Activity

In other news, insider Jonathan Zalevsky sold 5,681 shares of Nektar Therapeutics stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider directly owned 9,756 shares of the company’s stock, valued at approximately $682,920. The trade was a 36.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Howard W. Robin sold 10,000 shares of Nektar Therapeutics stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total value of $603,200.00. Following the completion of the sale, the chief executive officer directly owned 65,045 shares in the company, valued at $3,923,514.40. This trade represents a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,862 shares of company stock valued at $1,379,205 in the last three months. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Nektar Therapeutics during the 2nd quarter valued at approximately $65,000. Integrated Wealth Concepts LLC purchased a new position in shares of Nektar Therapeutics in the first quarter valued at $68,000. Quarry LP purchased a new position in shares of Nektar Therapeutics in the fourth quarter valued at $85,000. Finally, Rhumbline Advisers increased its position in Nektar Therapeutics by 23.3% in the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 41,948 shares during the last quarter. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. Wedbush cut their target price on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. BTIG Research increased their target price on Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Piper Sandler lifted their target price on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Nektar Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Nektar Therapeutics Company Profile

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.