Nektar Therapeutics (NASDAQ:NKTR) Releases Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Key Points

• Nektar Therapeutics reported a quarterly loss of $1.63 per share, beating analyst estimates by $0.44, while revenue of $9.39 million fell short of the $10.27 million consensus.
• Shares fell $1.19 to $37.25 on Thursday. The stock’s 52-week range was $33.40 to $109.00.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $130.67, though ratings ranged from Buy to Sell.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) posted its earnings results on Thursday. The biopharmaceutical company reported ($1.63) EPS for the quarter, beating analysts' consensus estimates of ($2.07) by $0.44, FiscalAI reports. The company had revenue of $9.39 million during the quarter, compared to analysts' expectations of $10.27 million. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%.

Nektar Therapeutics Price Performance

NASDAQ:NKTR traded down $1.19 during trading hours on Thursday, hitting $37.25. 769,575 shares of the company were exchanged, compared to its average volume of 1,064,109. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -5.56 and a beta of 1.44. Nektar Therapeutics has a 52-week low of $33.40 and a 52-week high of $109.00. The company's 50 day moving average price is $49.97 and its 200-day moving average price is $64.54.

Insider Activity

In other Nektar Therapeutics news, CEO Howard Robin sold 418 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total value of $30,087.64. Following the completion of the transaction, the chief executive officer owned 54,627 shares of the company's stock, valued at approximately $3,932,051.46. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

NKTR has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $185.00 price target on shares of Nektar Therapeutics in a research report on Friday, October 2nd. BTIG Research reissued a "buy" rating and issued a $178.00 price objective on shares of Nektar Therapeutics in a research report on Friday, October 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nektar Therapeutics in a research report on Friday, August 28th. Raymond James Financial began coverage on Nektar Therapeutics in a research note on Friday, October 9th. They set a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. began coverage on Nektar Therapeutics in a research report on Friday, August 21st. They set a "neutral" rating and a $65.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $130.67.

About Nektar Therapeutics

Nektar Therapeutics is a clinical-stage biopharmaceutical company based in San Francisco, California. It discovers and develops medicines, with a current focus on treatments for autoimmune and inflammatory diseases. Its lead investigational program, rezpegaldesleukin (REZPEG), is designed to stimulate regulatory T cells, which help regulate immune responses. Nektar is studying the candidate in clinical trials for immune-mediated conditions; it is not an approved medicine. Founded in 1990 as Inhale Therapeutic Systems, the company later adopted the Nektar name as it expanded its drug-development work.

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