Equities analysts forecast that Nektar Therapeutics (NASDAQ:NKTR) will post sales of $26.22 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Nektar Therapeutics’ earnings, with estimates ranging from $21.15 million to $39.80 million. Nektar Therapeutics reported sales of $95.47 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 72.5%. The company is scheduled to announce its next earnings report on Thursday, March 7th.
On average, analysts expect that Nektar Therapeutics will report full-year sales of $1.18 billion for the current financial year, with estimates ranging from $1.17 billion to $1.20 billion. For the next fiscal year, analysts forecast that the business will report sales of $457.12 million, with estimates ranging from $135.00 million to $1.18 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Nektar Therapeutics.
Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.07. The company had revenue of $27.80 million during the quarter, compared to analyst estimates of $26.08 million. Nektar Therapeutics had a return on equity of 113.04% and a net margin of 59.71%. The firm’s revenue was down 81.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share.
Several brokerages have recently weighed in on NKTR. ValuEngine raised Nektar Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Zacks Investment Research downgraded Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, October 22nd. Cowen set a $86.00 target price on Nektar Therapeutics and gave the stock a “buy” rating in a research report on Thursday. Piper Jaffray Companies set a $125.00 target price on Nektar Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, HC Wainwright set a $54.00 target price on Nektar Therapeutics and gave the stock a “hold” rating in a research report on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $79.55.
NASDAQ:NKTR traded down $1.29 on Friday, hitting $34.02. 2,896,498 shares of the stock were exchanged, compared to its average volume of 2,502,319. The firm has a market capitalization of $6.55 billion, a PE ratio of -61.85 and a beta of 2.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 19.67 and a quick ratio of 19.55. Nektar Therapeutics has a fifty-two week low of $31.37 and a fifty-two week high of $111.36.
In other news, Director Dennis L. Winger sold 34,250 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $60.60, for a total value of $2,075,550.00. Following the completion of the sale, the director now owns 59,875 shares of the company’s stock, valued at $3,628,425. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Robert Ajer sold 6,750 shares of the company’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $56.76, for a total value of $383,130.00. Following the completion of the sale, the director now directly owns 15,750 shares of the company’s stock, valued at approximately $893,970. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock valued at $5,825,680 in the last ninety days. Company insiders own 4.31% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BB Biotech AG boosted its holdings in Nektar Therapeutics by 61.0% in the third quarter. BB Biotech AG now owns 845,000 shares of the biopharmaceutical company’s stock valued at $51,511,000 after purchasing an additional 320,000 shares during the last quarter. Sterling Investment Advisors Ltd. purchased a new position in Nektar Therapeutics in the third quarter valued at about $183,000. American International Group Inc. boosted its holdings in Nektar Therapeutics by 13.1% in the third quarter. American International Group Inc. now owns 60,570 shares of the biopharmaceutical company’s stock valued at $3,692,000 after purchasing an additional 7,033 shares during the last quarter. BlackRock Inc. boosted its holdings in Nektar Therapeutics by 3.7% in the third quarter. BlackRock Inc. now owns 13,121,756 shares of the biopharmaceutical company’s stock valued at $799,902,000 after purchasing an additional 463,152 shares during the last quarter. Finally, Atlas Capital Advisors LLC boosted its holdings in Nektar Therapeutics by 1,015.3% in the third quarter. Atlas Capital Advisors LLC now owns 6,692 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 6,092 shares during the last quarter. 92.72% of the stock is owned by hedge funds and other institutional investors.
About Nektar Therapeutics
Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.
See Also: What is a Leveraged Buyout (LBO)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nektar Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nektar Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.