Wall Street analysts forecast that Nektar Therapeutics (NASDAQ:NKTR) will announce sales of $26.07 million for the current quarter, Zacks reports. Five analysts have issued estimates for Nektar Therapeutics’ earnings. The highest sales estimate is $42.50 million and the lowest is $18.50 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 72.7%. The business is scheduled to announce its next quarterly 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 fiscal year, with estimates ranging from $1.17 billion to $1.20 billion. For the next year, analysts forecast that the firm will report sales of $383.90 million, with estimates ranging from $92.39 million to $1.18 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Nektar Therapeutics.
A number of brokerages recently issued reports on NKTR. Zacks Investment Research downgraded shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, December 10th. TheStreet downgraded shares of Nektar Therapeutics from a “c” rating to a “d+” rating in a report on Wednesday, November 7th. ValuEngine downgraded shares of Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Canaccord Genuity lowered their price target on shares of Nektar Therapeutics from $94.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, November 13th. Finally, HC Wainwright set a $47.00 price target on shares of Nektar Therapeutics and gave the stock a “hold” rating in a report on Monday, November 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Nektar Therapeutics currently has a consensus rating of “Buy” and an average price target of $79.90.
In other Nektar Therapeutics news, SVP Jillian B. Thomsen sold 16,119 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $42.16, for a total transaction of $679,577.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stephen K. Doberstein sold 4,524 shares of the company’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $38.25, for a total transaction of $173,043.00. Following the transaction, the senior vice president now owns 78,734 shares of the company’s stock, valued at $3,011,575.50. The disclosure for this sale can be found here. Insiders have sold 115,482 shares of company stock valued at $4,768,122 over the last 90 days. 4.31% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Laurel Wealth Advisors LLC acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $39,000. Sandy Spring Bank acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $59,000. Financial Architects Inc raised its position in shares of Nektar Therapeutics by 91.6% in the fourth quarter. Financial Architects Inc now owns 2,092 shares of the biopharmaceutical company’s stock valued at $69,000 after buying an additional 1,000 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $101,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Nektar Therapeutics in the third quarter valued at about $123,000. Institutional investors own 91.26% of the company’s stock.
Nektar Therapeutics Company Profile
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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