Piper Jaffray Companies Analysts Reduce Earnings Estimates for Nektar Therapeutics (NKTR)

Nektar Therapeutics (NASDAQ:NKTR) – Piper Jaffray Companies lowered their FY2022 earnings estimates for Nektar Therapeutics in a note issued to investors on Wednesday, November 7th. Piper Jaffray Companies analyst T. Van. Buren now forecasts that the biopharmaceutical company will post earnings per share of $1.80 for the year, down from their prior estimate of $1.95. Piper Jaffray Companies currently has a “Buy” rating and a $125.00 target price on the stock.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.07. Nektar Therapeutics had a return on equity of 174.70% and a net margin of 65.69%. The company had revenue of $27.80 million during the quarter, compared to analysts’ expectations of $26.08 million. During the same period in the prior year, the company earned $0.37 EPS. Nektar Therapeutics’s revenue was down 81.8% compared to the same quarter last year.

A number of other research analysts have also recently commented on NKTR. Zacks Investment Research upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Monday, July 16th. HC Wainwright restated a “hold” rating and issued a $54.00 price objective on shares of Nektar Therapeutics in a report on Tuesday, July 31st. BidaskClub upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Mizuho restated a “buy” rating and issued a $103.00 price objective on shares of Nektar Therapeutics in a report on Thursday, August 9th. Finally, Cowen restated a “buy” rating and issued a $86.00 price objective on shares of Nektar Therapeutics in a report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $79.55.

Shares of NKTR traded up $0.63 during trading hours on Friday, reaching $35.94. The stock had a trading volume of 35,201 shares, compared to its average volume of 2,506,146. Nektar Therapeutics has a 12 month low of $30.30 and a 12 month high of $111.36. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -64.76 and a beta of 2.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 19.55 and a current ratio of 19.67.

In other Nektar Therapeutics news, Director Dennis L. Winger sold 15,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $59.62, for a total transaction of $894,300.00. Following the completion of the sale, the director now directly owns 57,750 shares in the company, valued at approximately $3,443,055. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dennis L. Winger sold 34,250 shares of the 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 sale, the director now owns 59,875 shares of the company’s stock, valued at $3,628,425. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock valued at $5,825,680 over the last 90 days. 4.31% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of NKTR. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at about $137,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at about $142,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Nektar Therapeutics by 68.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,290 shares of the biopharmaceutical company’s stock valued at $209,000 after buying an additional 1,747 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at about $213,000. Finally, Meristem LLP acquired a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at about $225,000. Hedge funds and other institutional investors own 92.72% of the company’s stock.

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.

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Earnings History and Estimates for Nektar Therapeutics (NASDAQ:NKTR)

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