Equities analysts forecast that Nektar Therapeutics (NASDAQ:NKTR) will post $39.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Nektar Therapeutics’ earnings, with estimates ranging from $37.90 million to $41.09 million. Nektar Therapeutics posted sales of $37.45 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The company is expected to report its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Nektar Therapeutics will report full year sales of $39.54 million for the current year, with estimates ranging from $250.10 million to $253.34 million. For the next fiscal year, analysts anticipate that the business will post sales of $194.30 million per share, with estimates ranging from $141.09 million to $280.21 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Nektar Therapeutics.
Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. The business had revenue of $152.90 million for the quarter, compared to analyst estimates of $126.50 million. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The company’s revenue was up 321.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.32) EPS.
A number of brokerages have issued reports on NKTR. Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price target on shares of Nektar Therapeutics in a report on Friday, August 18th. BidaskClub raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Canaccord Genuity raised their price target on shares of Nektar Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright began coverage on shares of Nektar Therapeutics in a report on Monday, August 7th. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $35.58.
In related news, SVP Stephen K. Doberstein sold 396,323 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $29.00, for a total transaction of $11,493,367.00. Following the sale, the senior vice president now owns 52,016 shares of the company’s stock, valued at $1,508,464. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Howard W. Robin sold 83,333 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $21.54, for a total transaction of $1,794,992.82. Following the sale, the chief executive officer now directly owns 235,837 shares in the company, valued at approximately $5,079,928.98. The disclosure for this sale can be found here. Insiders have sold 941,427 shares of company stock worth $24,663,626 in the last three months. 6.10% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of NKTR. Janus Henderson Group PLC purchased a new position in Nektar Therapeutics in the second quarter worth about $34,661,000. PointState Capital LP raised its holdings in Nektar Therapeutics by 281.7% in the second quarter. PointState Capital LP now owns 1,731,000 shares of the biopharmaceutical company’s stock worth $33,841,000 after buying an additional 1,277,500 shares during the last quarter. State Street Corp raised its holdings in Nektar Therapeutics by 11.3% in the second quarter. State Street Corp now owns 4,408,270 shares of the biopharmaceutical company’s stock worth $86,179,000 after buying an additional 447,023 shares during the last quarter. Numeric Investors LLC raised its holdings in Nektar Therapeutics by 2,111.5% in the second quarter. Numeric Investors LLC now owns 440,729 shares of the biopharmaceutical company’s stock worth $8,616,000 after buying an additional 420,800 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Nektar Therapeutics by 3.0% in the second quarter. Vanguard Group Inc. now owns 14,009,894 shares of the biopharmaceutical company’s stock worth $273,893,000 after buying an additional 401,914 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.
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Shares of Nektar Therapeutics (NASDAQ:NKTR) opened at $44.93 on Friday. Nektar Therapeutics has a twelve month low of $11.41 and a twelve month high of $45.76. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.14 and a quick ratio of 3.99.
About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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