Symbols / NKTR $74.19 -3.64% Nektar Therapeutics

Healthcare • Biotechnology • United States • NCM
NKTR Chart
About

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. It develops rezpegaldesleukin, which is in Phase 2b to treat underlying immune system imbalance in people with autoimmune disorders and inflammatory diseases; NKTR-0165 to treat ulcerative colitis, vitiligo, and multiple sclerosis; NKTR-0166 to treat autoimmune disease; NKTR-422 to treat fibrotic diseases; and NKTR-255 to treat solid tumors and large b-cell lymphoma. It has collaboration agreements with Takeda Pharmaceutical Company Ltd.; AstraZeneca AB; UCB Pharma; F. Hoffmann-La Roche Ltd; Bausch Health Companies Inc.; Pfizer Inc.; UCB Pharma (Biogen); Bristol-Myers Squibb Company; and Merck KGaA. The company was incorporated in 1990 and is headquartered in San Francisco, California.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Biotechnology Market Cap 2.13B
Enterprise Value 2.11B Income -164.08M Sales 55.23M
Book/sh 4.41 Cash/sh 8.57 Dividend Yield —
Payout 0.00% Employees 63 IPO —
P/E — Forward P/E -6.60 PEG —
P/S 38.53 P/B 16.83 P/C —
EV/EBITDA -16.28 EV/Sales 38.24 Quick Ratio 4.62
Current Ratio 4.97 Debt/Eq 165.76 LT Debt/Eq —
EPS (ttm) -9.73 EPS next Y -11.24 EPS Growth —
Revenue Growth -25.30% Earnings 2026-05-07 ROA -27.98%
ROE -217.94% ROIC — Gross Margin 100.00%
Oper. Margin -87.54% Profit Margin -297.07% Shs Outstand 28.69M
Shs Float 26.95M Short Float 12.96% Short Ratio 3.55
Short Interest — 52W High 78.81 52W Low 6.45
Beta 1.18 Avg Volume 1.14M Volume 177.11K
Target Price $128.12 Recom Strong_buy Prev Close $76.99
Price $74.19 Change -3.64%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$128.13
Mean price target
2. Current target
$74.72
Latest analyst target
3. DCF / Fair value
$-67.91
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$74.72
Low
$70.00
High
$165.00
Mean
$128.13

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-24 init Wedbush — → Neutral $70
2026-03-17 init TD Cowen — → Buy —
2026-03-16 main Citigroup Buy → Buy $123
2026-02-23 reit B. Riley Securities Buy → Buy $150
2026-02-10 main HC Wainwright & Co. Buy → Buy $165
2026-02-10 main BTIG Buy → Buy $151
2026-01-29 reit BTIG Buy → Buy $118
2025-12-16 main HC Wainwright & Co. Buy → Buy $135
2025-12-16 main BTIG Buy → Buy $118
2025-11-26 init Citigroup — → Buy $102
2025-11-26 main Jefferies Buy → Buy $121
2025-09-23 main B. Riley Securities Buy → Buy $105
2025-09-19 reit BTIG Buy → Buy $100
2025-07-08 main B. Riley Securities Buy → Buy $85
2025-06-24 main HC Wainwright & Co. Buy → Buy $120
2025-04-11 up Jefferies Hold → Buy $2
2025-03-14 up Oppenheimer Perform → Outperform $6
2025-03-13 reit HC Wainwright & Co. Buy → Buy $7
2025-02-25 reit HC Wainwright & Co. Buy → Buy $7
2025-01-13 reit HC Wainwright & Co. Buy → Buy $7
News
RSS: Latest NKTR news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-02-18 ZALEVSKY JONATHAN Officer — 180 $73.00 $13,140
2026-02-18 ROBIN HOWARD W Chief Executive Officer — 423 $73.00 $30,879
2026-01-20 ZALEVSKY JONATHAN Officer — 3,867 $35.67 $137,936
2025-12-22 ROBIN HOWARD W Chief Executive Officer — 21,667 $0.00 $0
2025-12-22 ZALEVSKY JONATHAN Officer — 6,250 $0.00 $0
2025-11-25 ZALEVSKY JONATHAN Officer — 1,157 $54.28 $62,802
2025-11-25 WILSON MARK ANDREW Officer — 630 $54.28 $34,196
2025-11-25 ROBIN HOWARD W Chief Executive Officer — 2,207 $54.28 $119,796
2025-11-21 ROBIN HOWARD W Chief Executive Officer — 7,110 $0.00 $0
2025-11-21 ZALEVSKY JONATHAN Officer — 2,666 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
55.23
-43.89%
98.43
+9.22%
90.12
-2.10%
92.06
Operating Revenue
55.23
-43.89%
98.43
+9.22%
90.12
-2.10%
92.06
Cost Of Revenue
0.00
-100.00%
30.69
-9.13%
33.77
+56.08%
21.64
Reconciled Cost Of Revenue
0.00
-100.00%
30.69
-9.13%
33.77
+56.08%
21.64
Gross Profit
55.23
-18.47%
67.74
+20.21%
56.35
-19.97%
70.42
Operating Expense
186.00
-5.90%
197.66
+3.17%
191.58
-38.33%
310.66
Research And Development
117.33
-2.96%
120.91
+5.91%
114.16
-47.71%
218.32
Selling General And Administration
68.67
-10.52%
76.75
-0.86%
77.42
-16.15%
92.33
General And Administrative Expense
68.67
-10.52%
76.75
-0.86%
77.42
-16.15%
92.33
Other Gand A
68.67
-10.52%
76.75
-0.86%
77.42
-16.15%
92.33
Total Expenses
186.00
-18.54%
228.34
+1.33%
225.35
-32.18%
332.29
Operating Income
-130.77
-0.66%
-129.92
+3.92%
-135.22
+43.71%
-240.24
Total Operating Income As Reported
-140.10
-33.18%
-105.20
+60.10%
-263.68
+29.90%
-376.17
EBITDA
-128.28
-47.96%
-86.70
+64.34%
-243.11
+24.74%
-323.04
Normalized EBITDA
-118.95
-6.76%
-111.42
+2.82%
-114.65
+48.01%
-220.54
Reconciled Depreciation
1.03
-76.63%
4.39
-43.81%
7.82
-40.02%
13.03
EBIT
-129.30
-41.95%
-91.09
+63.70%
-250.92
+25.34%
-336.07
Total Unusual Items
-9.33
-137.75%
24.72
+119.24%
-128.46
-25.32%
-102.50
Total Unusual Items Excluding Goodwill
-9.33
-137.75%
24.72
+119.24%
-128.46
-25.32%
-102.50
Special Income Charges
-9.33
-137.75%
24.72
+119.24%
-128.46
+5.50%
-135.93
Other Special Charges
—
—
—
10.90
Impairment Of Capital Assets
4.44
-46.68%
8.33
-92.55%
111.83
+70.05%
65.76
Restructuring And Mergern Acquisition
4.89
-33.39%
7.34
-52.11%
15.33
-79.14%
73.50
Write Off
—
—
—
—
Net Income
-164.08
-37.92%
-118.96
+56.91%
-276.06
+25.03%
-368.20
Pretax Income
-155.49
-30.44%
-119.20
+56.85%
-276.26
+24.31%
-364.98
Net Non Operating Interest Income Expense
-15.75
-15.68%
-13.61
-115.21%
-6.33
+71.42%
-22.13
Interest Expense Non Operating
26.18
-6.86%
28.11
+10.97%
25.33
-12.37%
28.91
Net Interest Income
-15.75
-15.68%
-13.61
-115.21%
-6.33
+71.42%
-22.13
Interest Expense
26.18
-6.86%
28.11
+10.97%
25.33
-12.37%
28.91
Interest Income Non Operating
10.44
-28.01%
14.50
-23.72%
19.01
+180.24%
6.78
Interest Income
10.44
-28.01%
14.50
-23.72%
19.01
+180.24%
6.78
Other Income Expense
-8.97
-136.87%
24.33
+118.06%
-134.71
-31.27%
-102.62
Other Non Operating Income Expenses
0.36
+192.56%
-0.39
+93.76%
-6.25
-5285.34%
-0.12
Gain On Sale Of Security
—
—
—
33.43
Gain On Sale Of Business
0.00
-100.00%
40.39
0.00
—
Tax Provision
-0.14
+42.26%
-0.24
-19.50%
-0.20
-106.22%
3.21
Tax Rate For Calcs
0.00
-50.00%
0.00
+176.24%
0.00
-99.66%
0.00
Tax Effect Of Unusual Items
-0.01
-118.87%
0.05
+153.16%
-0.09
+99.57%
-21.53
Net Income Including Noncontrolling Interests
-164.08
-37.92%
-118.96
+56.91%
-276.06
+25.03%
-368.20
Net Income From Continuing Operation Net Minority Interest
-164.08
-37.92%
-118.96
+56.91%
-276.06
+25.03%
-368.20
Net Income From Continuing And Discontinued Operation
-164.08
-37.92%
-118.96
+56.91%
-276.06
+25.03%
-368.20
Net Income Continuous Operations
-164.08
-37.92%
-118.96
+56.91%
-276.06
+25.03%
-368.20
Normalized Income
-154.75
-7.74%
-143.63
+2.75%
-147.69
+48.58%
-287.22
Net Income Common Stockholders
-164.08
-37.92%
-118.96
+56.91%
-276.06
+25.03%
-368.20
Diluted EPS
-9.73
-11.84%
-8.70
+60.00%
-21.75
+26.40%
-29.55
Basic EPS
-9.73
-11.84%
-8.70
+60.00%
-21.75
+26.40%
-29.55
Basic Average Shares
16.87
+23.05%
13.71
+8.24%
12.67
+1.53%
12.48
Diluted Average Shares
16.87
+23.05%
13.71
+8.24%
12.67
+1.53%
12.48
Diluted NI Availto Com Stockholders
-164.08
-37.92%
-118.96
+56.91%
-276.06
+25.03%
-368.20
Earnings From Equity Interest Net Of Tax
-8.73
0.00
—
—
Gain On Sale Of PPE
—
0.00
+100.00%
-1.30
-139.09%
3.33
Line Item Trend 2024-12-31 2023-12-31
Total Assets
303.85
-23.66%
398.03
Current Assets
261.29
-20.99%
330.70
Cash Cash Equivalents And Short Term Investments
255.23
-15.94%
303.62
Cash And Cash Equivalents
44.25
+25.44%
35.28
Cash Equivalents
—
—
Cash Financial
—
—
Other Short Term Investments
210.97
-21.38%
268.34
Receivables
1.61
-28.55%
2.25
Accounts Receivable
0.00
-100.00%
1.21
Other Receivables
1.61
+53.68%
1.05
Inventory
0.00
-100.00%
16.10
Raw Materials
0.00
-100.00%
1.86
Work In Process
0.00
-100.00%
12.88
Finished Goods
0.00
-100.00%
1.36
Prepaid Assets
4.46
-48.96%
8.73
Other Current Assets
—
—
Total Non Current Assets
42.56
-36.79%
67.33
Net PPE
11.82
-67.92%
36.86
Gross PPE
11.82
-90.45%
123.76
Accumulated Depreciation
-15.91
+81.69%
-86.90
Properties
3.88
-91.01%
43.18
Machinery Furniture Equipment
14.64
-36.28%
22.98
Construction In Progress
0.24
-66.85%
0.74
Other Properties
11.82
-79.20%
56.86
Goodwill And Other Intangible Assets
—
0.00
Goodwill
—
0.00
Investments And Advances
26.09
+1.01%
25.82
Long Term Equity Investment
12.22
0.00
Other Investments
13.87
-46.30%
25.82
Other Non Current Assets
4.65
+0.06%
4.64
Total Liabilities Net Minority Interest
243.11
-8.96%
267.05
Current Liabilities
61.40
+19.76%
51.27
Payables And Accrued Expenses
38.70
+46.28%
26.46
Payables
11.56
+17.38%
9.85
Accounts Payable
11.56
+17.38%
9.85
Current Accrued Expenses
27.14
+63.41%
16.61
Pensionand Other Post Retirement Benefit Plans Current
2.83
-49.00%
5.55
Current Debt And Capital Lease Obligation
19.87
+3.16%
19.26
Current Capital Lease Obligation
19.87
+3.16%
19.26
Total Non Current Liabilities Net Minority Interest
181.71
-15.79%
215.78
Long Term Debt And Capital Lease Obligation
82.70
-16.06%
98.52
Long Term Capital Lease Obligation
82.70
-16.06%
98.52
Other Non Current Liabilities
99.02
-15.56%
117.26
Stockholders Equity
60.74
-53.63%
130.99
Common Stock Equity
60.74
-53.63%
130.99
Capital Stock
0.00
-94.74%
0.02
Common Stock
0.00
-94.74%
0.02
Preferred Stock
0.00
0.00
Share Issued
12.94
+1.40%
12.76
Ordinary Shares Number
12.39
-2.93%
12.76
Treasury Shares Number
0.55
0.00
Additional Paid In Capital
3,659.89
+1.43%
3,608.14
Retained Earnings
-3,596.21
-3.42%
-3,477.25
Gains Losses Not Affecting Retained Earnings
0.06
-23.75%
0.08
Treasury Stock
3.00
0.00
Other Equity Adjustments
0.06
-23.75%
0.08
Total Equity Gross Minority Interest
60.74
-53.63%
130.99
Total Capitalization
60.74
-53.63%
130.99
Working Capital
199.89
-28.46%
279.43
Invested Capital
60.74
-53.63%
130.99
Total Debt
102.56
-12.92%
117.78
Capital Lease Obligations
102.56
-12.92%
117.78
Net Tangible Assets
60.74
-53.63%
130.99
Tangible Book Value
60.74
-53.63%
130.99
Available For Sale Securities
13.87
—
Derivative Product Liabilities
—
—
Investmentin Financial Assets
13.87
—
Investments In Other Ventures Under Equity Method
12.22
0.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-208.51
-18.67%
-175.71
+8.77%
-192.61
+36.64%
-304.01
Cash Flow From Continuing Operating Activities
-208.51
-18.67%
-175.71
+8.77%
-192.61
+36.64%
-304.01
Net Income From Continuing Operations
-164.08
-37.92%
-118.96
+56.91%
-276.06
+25.03%
-368.20
Depreciation Amortization Depletion
1.03
-76.63%
4.39
-43.81%
7.82
-40.02%
13.03
Depreciation And Amortization
1.03
-76.63%
4.39
-43.81%
7.82
-40.02%
13.03
Other Non Cash Items
-28.75
+20.49%
-36.16
+17.05%
-43.59
-21.30%
-35.93
Stock Based Compensation
12.65
-41.47%
21.61
-35.27%
33.39
-41.75%
57.32
Provisionand Write Offof Assets
0.00
-100.00%
0.95
-60.49%
2.40
0.00
Asset Impairment Charge
4.44
-46.68%
8.33
-92.55%
111.83
+70.05%
65.76
Deferred Tax
—
—
-0.14
-105.17%
2.71
Deferred Income Tax
—
—
-0.14
-105.17%
2.71
Operating Gains Losses
8.73
+121.61%
-40.39
-731.19%
6.40
+117.41%
-36.75
Gain Loss On Investment Securities
—
—
—
-33.43
Net Foreign Currency Exchange Gain Loss
—
0.00
-100.00%
5.10
0.00
Gain Loss On Sale Of PPE
—
0.00
-100.00%
1.30
+139.09%
-3.33
Change In Working Capital
-37.02
-493.30%
-6.24
+68.71%
-19.94
-4152.85%
0.49
Change In Receivables
0.00
+100.00%
-3.04
-163.76%
4.78
-71.07%
16.51
Changes In Account Receivables
0.00
+100.00%
-3.04
-163.76%
4.78
-71.07%
16.51
Change In Inventory
0.00
-100.00%
0.50
-28.90%
0.70
+120.55%
-3.40
Change In Payables And Accrued Expense
-6.41
-147.83%
13.40
+166.51%
-20.15
-19.62%
-16.84
Change In Accrued Expense
-5.79
-153.90%
10.73
+162.17%
-17.26
+13.45%
-19.95
Change In Payable
-0.62
-123.43%
2.67
+192.51%
-2.88
-192.94%
3.10
Change In Account Payable
-0.62
-123.43%
2.67
+192.51%
-2.88
-192.94%
3.10
Change In Other Working Capital
-15.16
-17.45%
-12.90
-45.82%
-8.85
-230.22%
-2.68
Change In Other Current Assets
-15.45
-268.98%
-4.19
-216.86%
3.58
-48.12%
6.91
Investing Cash Flow
-1.20
-100.84%
142.57
+2.15%
139.56
-61.85%
365.83
Cash Flow From Continuing Investing Activities
-1.20
-100.84%
142.57
+2.15%
139.56
-61.85%
365.83
Net PPE Purchase And Sale
-0.17
+88.35%
-1.47
-486.32%
0.38
-94.95%
7.52
Purchase Of PPE
-0.17
+88.35%
-1.47
-69.71%
-0.86
+84.76%
-5.68
Sale Of PPE
—
0.00
-100.00%
1.25
-90.57%
13.20
Capital Expenditure
-0.17
+88.35%
-1.47
-69.71%
-0.86
+84.76%
-5.68
Net Investment Purchase And Sale
-0.33
-100.42%
78.65
-43.49%
139.18
-61.16%
358.31
Purchase Of Investment
-285.01
-8.90%
-261.71
+48.85%
-511.70
-9.36%
-467.91
Sale Of Investment
284.68
-16.36%
340.36
-47.71%
650.88
-21.22%
826.23
Net Business Purchase And Sale
-0.70
-101.07%
65.39
0.00
—
Gain Loss On Sale Of Business
0.00
+100.00%
-40.39
0.00
—
Financing Cash Flow
180.57
+328.71%
42.12
+140293.33%
0.03
-98.01%
1.51
Cash Flow From Continuing Financing Activities
180.57
+328.71%
42.12
+140293.33%
0.03
-98.01%
1.51
Net Issuance Payments Of Debt
—
—
—
0.00
Issuance Of Debt
—
—
—
—
Repayment Of Debt
—
—
—
0.00
Long Term Debt Payments
—
—
—
0.00
Net Long Term Debt Issuance
—
—
—
0.00
Short Term Debt Issuance
—
—
—
—
Net Short Term Debt Issuance
—
—
—
—
Net Common Stock Issuance
180.85
+6128.33%
-3.00
0.00
—
Common Stock Payments
0.00
+100.00%
-3.00
0.00
—
Repurchase Of Capital Stock
0.00
+100.00%
-3.00
0.00
—
Proceeds From Stock Option Exercised
0.87
-97.12%
30.12
+100293.33%
0.03
-96.04%
0.76
Net Other Financing Charges
-1.15
-107.67%
15.00
—
0.75
Changes In Cash
-29.14
-424.56%
8.98
+116.94%
-53.01
-183.70%
63.34
Effect Of Exchange Rate Changes
0.01
+250.00%
-0.00
-106.45%
0.06
+118.96%
-0.33
Beginning Cash Position
44.25
+25.44%
35.28
-60.02%
88.23
+249.86%
25.22
End Cash Position
15.12
-65.84%
44.25
+25.44%
35.28
-60.02%
88.23
Free Cash Flow
-208.68
-17.78%
-177.18
+8.42%
-193.47
+37.53%
-309.68
Interest Paid Supplemental Data
—
—
—
0.00
Income Tax Paid Supplemental Data
—
0.08
-97.14%
2.66
+876.47%
0.27
Amortization Of Securities
-5.51
+40.36%
-9.24
+37.77%
-14.86
-510.10%
-2.44
Common Stock Issuance
180.85
0.00
—
—
Earnings Losses From Equity Investments
8.73
0.00
—
—
Issuance Of Capital Stock
180.85
0.00
—
—
Sale Of Business
—
65.39
0.00
—
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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