$22.84 Million in Sales Expected for Nektar Therapeutics (NASDAQ:NKTR) This Quarter

Wall Street brokerages expect Nektar Therapeutics (NASDAQ:NKTR) to post sales of $22.84 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Nektar Therapeutics’ earnings. The lowest sales estimate is $21.53 million and the highest is $23.50 million. Nektar Therapeutics posted sales of $23.32 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2.1%. The firm is expected to issue its next earnings results on Thursday, August 13th.

According to Zacks, analysts expect that Nektar Therapeutics will report full year sales of $147.12 million for the current financial year, with estimates ranging from $144.00 million to $153.77 million. For the next year, analysts expect that the business will report sales of $143.65 million, with estimates ranging from $100.10 million to $262.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Nektar Therapeutics.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.24. Nektar Therapeutics had a negative net margin of 335.50% and a negative return on equity of 28.83%. The company had revenue of $50.57 million during the quarter, compared to the consensus estimate of $46.88 million. During the same quarter in the previous year, the company posted ($0.68) earnings per share. The company’s revenue for the quarter was up 79.2% compared to the same quarter last year.

Several equities research analysts recently weighed in on the stock. HC Wainwright reduced their price objective on shares of Nektar Therapeutics from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Zacks Investment Research downgraded shares of Nektar Therapeutics from a “buy” rating to a “hold” rating and set a $21.00 price objective for the company. in a report on Wednesday, April 15th. BidaskClub raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Nektar Therapeutics from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, March 9th. Finally, Oppenheimer upped their price objective on shares of Nektar Therapeutics from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Monday, May 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $31.39.

In related news, Director Robert Chess sold 8,000 shares of Nektar Therapeutics stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $18.38, for a total value of $147,040.00. Following the sale, the director now owns 284,973 shares of the company’s stock, valued at approximately $5,237,803.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.99% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of Nektar Therapeutics by 1.8% during the 1st quarter. State Street Corp now owns 4,631,555 shares of the biopharmaceutical company’s stock worth $82,673,000 after acquiring an additional 81,450 shares during the period. New Mexico Educational Retirement Board boosted its stake in shares of Nektar Therapeutics by 38.7% during the 1st quarter. New Mexico Educational Retirement Board now owns 41,900 shares of the biopharmaceutical company’s stock worth $748,000 after acquiring an additional 11,700 shares during the period. State of Tennessee Treasury Department bought a new position in shares of Nektar Therapeutics during the 1st quarter worth approximately $2,665,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Nektar Therapeutics by 11.0% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 26,678 shares of the biopharmaceutical company’s stock worth $476,000 after acquiring an additional 2,648 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Nektar Therapeutics by 18.0% during the 1st quarter. Morgan Stanley now owns 681,764 shares of the biopharmaceutical company’s stock worth $12,170,000 after acquiring an additional 104,172 shares during the period. 98.20% of the stock is owned by institutional investors and hedge funds.

Shares of NKTR traded down $0.44 during midday trading on Friday, hitting $22.05. 1,342,125 shares of the stock traded hands, compared to its average volume of 1,250,463. Nektar Therapeutics has a 1-year low of $13.63 and a 1-year high of $36.85. The firm has a market capitalization of $3.92 billion, a PE ratio of -8.45 and a beta of 1.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.75 and a current ratio of 3.79. The business’s 50 day moving average price is $22.02 and its two-hundred day moving average price is $20.83.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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

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