Nektar Therapeutics (NKTR) Announces Quarterly Earnings Results
Nektar Therapeutics (NASDAQ:NKTR) announced its earnings results on Tuesday. The biopharmaceutical company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.16, Briefing.com reports. The firm had revenue of $152.90 million for the quarter, compared to the consensus estimate of $126.50 million. Nektar Therapeutics had a negative return on equity of 1,223.34% and a negative net margin of 157.14%. The business’s quarterly revenue was up 321.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.32) EPS.
Shares of Nektar Therapeutics (NASDAQ:NKTR) traded up $2.56 on Tuesday, reaching $26.84. The company’s stock had a trading volume of 2,766,610 shares, compared to its average volume of 1,091,820. The company has a debt-to-equity ratio of 72.60, a quick ratio of 3.82 and a current ratio of 3.97.
In other news, SVP Stephen K. Doberstein sold 43,677 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $24.97, for a total value of $1,090,614.69. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen K. Doberstein sold 1,701 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $19.32, for a total value of $32,863.32. Following the completion of the transaction, the senior vice president now owns 31,102 shares in the company, valued at approximately $600,890.64. The disclosure for this sale can be found here. Insiders have sold a total of 623,317 shares of company stock valued at $14,352,710 over the last three months. Corporate insiders own 5.44% of the company’s stock.
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NKTR has been the topic of several recent research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Nektar Therapeutics in a report on Friday, August 18th. Zacks Investment Research raised Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, August 1st. Roth Capital set a $33.00 price objective on Nektar Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 9th. HC Wainwright started coverage on Nektar Therapeutics in a research note on Monday, August 7th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, Mizuho started coverage on Nektar Therapeutics in a research note on Tuesday, September 26th. They issued a “buy” rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Nektar Therapeutics currently has a consensus rating of “Buy” and an average price target of $26.80.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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