Nektar Therapeutics (NASDAQ:NKTR – Get Rating) – SVB Leerink lowered their Q3 2022 earnings per share (EPS) estimates for shares of Nektar Therapeutics in a research note issued on Wednesday, September 7th. SVB Leerink analyst D. Graybosch now expects that the biopharmaceutical company will post earnings per share of ($0.66) for the quarter, down from their previous forecast of ($0.52). The consensus estimate for Nektar Therapeutics' current full-year earnings is ($2.14) per share. SVB Leerink also issued estimates for Nektar Therapeutics' Q4 2022 earnings at ($0.30) EPS, FY2022 earnings at ($2.30) EPS, Q1 2023 earnings at ($0.23) EPS, Q2 2023 earnings at ($0.23) EPS, Q3 2023 earnings at ($0.23) EPS, Q4 2023 earnings at ($0.23) EPS and FY2023 earnings at ($0.92) EPS.
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Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.16. The company had revenue of $21.59 million during the quarter, compared to analysts' expectations of $22.75 million. Nektar Therapeutics had a negative return on equity of 82.40% and a negative net margin of 544.77%. Nektar Therapeutics's revenue for the quarter was down 23.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.69) EPS.
A number of other equities research analysts have also recently issued reports on NKTR. StockNews.com raised shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, August 11th. JPMorgan Chase & Co. cut shares of Nektar Therapeutics from a "neutral" rating to an "underweight" rating in a report on Monday, August 8th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $13.17.
Nektar Therapeutics Price Performance
Shares of NASDAQ NKTR opened at $3.74 on Monday. The stock has a market capitalization of $700.89 million, a price-to-earnings ratio of -1.32 and a beta of 1.16. The business has a 50-day moving average of $4.15 and a 200-day moving average of $4.81. Nektar Therapeutics has a fifty-two week low of $3.02 and a fifty-two week high of $19.37.
Insider Buying and Selling
In related news, insider Jonathan Zalevsky sold 10,560 shares of Nektar Therapeutics stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $4.76, for a total transaction of $50,265.60. Following the completion of the sale, the insider now owns 400,839 shares of the company's stock, valued at approximately $1,907,993.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Nektar Therapeutics news, CEO Howard W. Robin sold 13,759 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $4.76, for a total transaction of $65,492.84. Following the transaction, the chief executive officer now owns 1,017,807 shares in the company, valued at approximately $4,844,761.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan Zalevsky sold 10,560 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $4.76, for a total transaction of $50,265.60. Following the transaction, the insider now owns 400,839 shares in the company, valued at approximately $1,907,993.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,230 shares of company stock valued at $483,266. Company insiders own 3.38% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Walleye Capital LLC grew its position in shares of Nektar Therapeutics by 29.9% during the 2nd quarter. Walleye Capital LLC now owns 486,724 shares of the biopharmaceutical company's stock worth $1,850,000 after purchasing an additional 112,024 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Nektar Therapeutics by 42.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 701,883 shares of the biopharmaceutical company's stock valued at $2,667,000 after buying an additional 210,436 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Nektar Therapeutics by 21.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 183,006 shares of the biopharmaceutical company's stock valued at $695,000 after buying an additional 32,763 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Nektar Therapeutics by 168.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 279,255 shares of the biopharmaceutical company's stock valued at $1,061,000 after buying an additional 175,275 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Nektar Therapeutics by 3.6% in the 2nd quarter. Prudential Financial Inc. now owns 192,550 shares of the biopharmaceutical company's stock valued at $732,000 after buying an additional 6,640 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company's stock.
About Nektar Therapeutics
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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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