$26.00 Million in Sales Expected for Nektar Therapeutics (NASDAQ:NKTR) This Quarter
Equities analysts forecast that Nektar Therapeutics (NASDAQ:NKTR) will announce $26.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Nektar Therapeutics’ earnings, with the lowest sales estimate coming in at $23.60 million and the highest estimate coming in at $28.50 million. Nektar Therapeutics posted sales of $39.83 million during the same quarter last year, which would indicate a negative year over year growth rate of 34.7%. The business is expected to report its next earnings report on Thursday, February 27th.
On average, analysts expect that Nektar Therapeutics will report full year sales of $106.99 million for the current financial year, with estimates ranging from $104.40 million to $110.00 million. For the next year, analysts forecast that the business will post sales of $154.89 million, with estimates ranging from $100.89 million to $205.71 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Nektar Therapeutics.
Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.17. The business had revenue of $29.22 million for the quarter, compared to the consensus estimate of $26.42 million. Nektar Therapeutics had a negative net margin of 352.83% and a negative return on equity of 26.60%. Nektar Therapeutics’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted ($0.56) earnings per share.
In other news, CFO Gil M. Labrucherie sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $19.79, for a total value of $494,750.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan Zalevsky sold 3,960 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $17.97, for a total transaction of $71,161.20. Following the completion of the transaction, the insider now owns 291,697 shares in the company, valued at approximately $5,241,795.09. The disclosure for this sale can be found here. Insiders have sold 54,092 shares of company stock worth $1,017,533 over the last three months. Insiders own 4.02% of the company’s stock.
Several institutional investors have recently modified their holdings of NKTR. Invesco Ltd. grew its holdings in shares of Nektar Therapeutics by 1,057.7% in the second quarter. Invesco Ltd. now owns 23,343,019 shares of the biopharmaceutical company’s stock worth $830,544,000 after purchasing an additional 21,326,731 shares during the last quarter. Great Point Partners LLC bought a new position in shares of Nektar Therapeutics in the third quarter worth approximately $38,707,000. Millennium Management LLC bought a new position in shares of Nektar Therapeutics in the third quarter worth approximately $18,034,000. Nuveen Asset Management LLC bought a new position in shares of Nektar Therapeutics in the second quarter worth approximately $33,330,000. Finally, BlackRock Inc. grew its holdings in shares of Nektar Therapeutics by 6.0% in the second quarter. BlackRock Inc. now owns 13,264,987 shares of the biopharmaceutical company’s stock worth $471,969,000 after purchasing an additional 749,644 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company’s stock.
NKTR traded down $1.42 on Friday, reaching $22.48. The company had a trading volume of 3,476,639 shares, compared to its average volume of 4,283,517. The business has a 50 day simple moving average of $21.90 and a 200 day simple moving average of $22.09. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 5.95 and a beta of 2.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 12.49 and a current ratio of 12.60. Nektar Therapeutics has a 52-week low of $15.64 and a 52-week high of $47.11.
Nektar Therapeutics Company Profile
Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.
Further Reading: What is the outlook for the FAANG stocks?
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.