$22.96 Million in Sales Expected for Nektar Therapeutics (NASDAQ:NKTR) This Quarter

Analysts forecast that Nektar Therapeutics (NASDAQ:NKTRGet Rating) will announce $22.96 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Nektar Therapeutics’ earnings, with estimates ranging from $21.10 million to $26.25 million. Nektar Therapeutics reported sales of $28.33 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 19%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Nektar Therapeutics will report full year sales of $93.44 million for the current financial year, with estimates ranging from $88.20 million to $103.57 million. For the next year, analysts expect that the business will post sales of $98.25 million, with estimates ranging from $89.10 million to $108.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Nektar Therapeutics.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.23. Nektar Therapeutics had a negative net margin of 476.58% and a negative return on equity of 65.64%. The company had revenue of $24.82 million for the quarter, compared to the consensus estimate of $24.89 million. During the same quarter in the prior year, the firm earned ($0.68) earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year.

Several brokerages have issued reports on NKTR. StockNews.com raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, May 31st. The Goldman Sachs Group downgraded shares of Nektar Therapeutics from a “neutral” rating to a “sell” rating and set a $3.00 price objective on the stock. in a research note on Monday, April 18th. Canaccord Genuity Group reduced their price objective on shares of Nektar Therapeutics from $25.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 16th. Stifel Nicolaus downgraded shares of Nektar Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $24.00 to $5.00 in a research note on Monday, March 14th. Finally, Mizuho reduced their price objective on shares of Nektar Therapeutics from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, April 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Nektar Therapeutics presently has a consensus rating of “Hold” and an average price target of $13.46.

Shares of NASDAQ NKTR opened at $3.63 on Monday. Nektar Therapeutics has a 12-month low of $3.30 and a 12-month high of $19.37. The company has a market capitalization of $676.17 million, a PE ratio of -1.36 and a beta of 1.37. The firm’s 50-day moving average is $4.54 and its two-hundred day moving average is $8.79.

In other news, CFO Gil M. Labrucherie sold 17,448 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $3.95, for a total value of $68,919.60. Following the completion of the sale, the chief financial officer now owns 312,905 shares of the company’s stock, valued at $1,235,974.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard W. Robin sold 36,529 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $3.95, for a total transaction of $144,289.55. Following the completion of the sale, the chief executive officer now directly owns 620,941 shares of the company’s stock, valued at approximately $2,452,716.95. The disclosure for this sale can be found here. Insiders have sold 84,627 shares of company stock valued at $334,277 in the last ninety days. 2.91% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new stake in shares of Nektar Therapeutics in the first quarter worth $55,000. Walleye Capital LLC acquired a new stake in Nektar Therapeutics during the 1st quarter valued at $2,020,000. BNP Paribas Arbitrage SA grew its holdings in Nektar Therapeutics by 88.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 240,846 shares of the biopharmaceutical company’s stock valued at $1,298,000 after purchasing an additional 113,098 shares in the last quarter. Royal Bank of Canada grew its holdings in Nektar Therapeutics by 245.7% during the 1st quarter. Royal Bank of Canada now owns 13,917 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 9,891 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Nektar Therapeutics by 21.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 491,447 shares of the biopharmaceutical company’s stock valued at $2,649,000 after purchasing an additional 85,650 shares in the last quarter. 93.08% of the stock is owned by institutional investors.

Nektar Therapeutics Company Profile (Get Rating)

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. 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, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, 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 solid tumors; and phase 1B clinical trial to treat COVID-19.

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