Nektar Therapeutics (NASDAQ:NKTR) Announces Earnings Results, Beats Estimates By $1.00 EPS
Nektar Therapeutics (NASDAQ:NKTR) reported quarterly earnings, posting an EPS of ($1.85), surpassing estimates of ($2.85) by $1.00. The company generated $11.79 million in revenue, exceeding the $10.20 million forecast. Despite a negative net margin of 163.17% and a return on equity of -631.43%, the stock rose to $55.97. Insider trading included CEO Howard W. Robin selling shares, and institutional investors hold 75.88% of the stock. Analysts have mixed ratings, with a consensus price target of $89.00 and an average rating of "Moderate Buy."
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.85) EPS for the quarter, beating the consensus estimate of ($2.85) by $1.00, FiscalAI reports. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. The business had revenue of $11.79 million during the quarter, compared to the consensus estimate of $10.20 million.
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Nektar Therapeutics Stock Performance
- 3 Bullish Biotech Stocks With Explosive Growth Trends
NKTR traded up $0.85 during midday trading on Friday, hitting $55.97. The company had a trading volume of 854,201 shares, compared to its average volume of 906,206. The company has a market capitalization of $1.06 billion, a PE ratio of -6.36 and a beta of 1.19. The firm's 50-day simple moving average is $54.43 and its 200-day simple moving average is $30.79. Nektar Therapeutics has a twelve month low of $6.45 and a twelve month high of $66.92.
Insiders Place Their Bets
In other news, CEO Howard W. Robin sold 6,666 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total transaction of $311,235.54. Following the transaction, the chief executive officer owned 49,342 shares of the company's stock, valued at $2,303,777.98. This represents a 11.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan Zalevsky sold 1,721 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $33.52, for a total transaction of $57,687.92. Following the transaction, the insider owned 17,462 shares in the company, valued at approximately $585,326.24. The trade was a 8.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 25,178 shares of company stock valued at $938,776. 5.25% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
- Biotech Catalyst Alert: NKTR, CDTX & WGS Rallying With Big Gains
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Nektar Therapeutics by 30.0% during the third quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company's stock worth $53,978,000 after purchasing an additional 219,155 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Nektar Therapeutics during the 3rd quarter worth approximately $574,000. Marshall Wace LLP bought a new position in Nektar Therapeutics in the second quarter valued at $367,000. Rhumbline Advisers increased its position in shares of Nektar Therapeutics by 23.3% in the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company's stock valued at $151,000 after acquiring an additional 41,948 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Nektar Therapeutics by 336.9% during the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company's stock worth $2,463,000 after purchasing an additional 2,807,595 shares in the last quarter. Institutional investors own 75.88% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Nektar Therapeutics in a research report on Wednesday, October 8th. B. Riley boosted their target price on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. Wall Street Zen raised shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, BTIG Research reissued a "buy" rating and set a $100.00 price objective on shares of Nektar Therapeutics in a report on Friday, September 19th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $89.00.
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View Our Latest Stock Analysis on Nektar Therapeutics
Nektar Therapeutics Company Profile
(Get Free Report)Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.
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