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 2.10B
Enterprise Value 1.97B Income -164.08M Sales 55.23M
Book/sh 4.41 Cash/sh 8.57 Dividend Yield
Payout 0.00% Employees IPO
P/E Forward P/E -5.87 PEG
P/S 37.99 P/B 17.01 P/C
EV/EBITDA -15.22 EV/Sales 35.75 Quick Ratio 4.62
Current Ratio 4.97 Debt/Eq 165.76 LT Debt/Eq
EPS (ttm) -9.73 EPS next Y -12.78 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 27.98M
Shs Float 26.95M Short Float 12.10% Short Ratio 2.12
Short Interest 52W High 77.00 52W Low 6.45
Beta 1.23 Avg Volume 1.12M Volume 638.91K
Target Price $136.43 Recom Strong_buy Prev Close $72.21
Price $75.00 Change 3.86%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$136.43
Mean price target
2. Current target
$75.00
Latest analyst target
3. DCF / Fair value
$-69.63
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$75.00
Low
$105.00
High
$165.00
Mean
$136.43

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
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
2025-01-08 init B. Riley Securities — → Buy $4
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 180 13140.0 Sale at price 73.00 per share. ZALEVSKY JONATHAN Officer 2026-02-18 00:00:00 D
1 423 30879.0 Sale at price 73.00 per share. ROBIN HOWARD W Chief Executive Officer 2026-02-18 00:00:00 D
2 3867 137936.0 Sale at price 35.67 per share. ZALEVSKY JONATHAN Officer 2026-01-20 00:00:00 D
3 21667 Stock Award(Grant) at price 0.00 per share. ROBIN HOWARD W Chief Executive Officer 2025-12-22 00:00:00 D
4 6250 Stock Award(Grant) at price 0.00 per share. ZALEVSKY JONATHAN Officer 2025-12-22 00:00:00 D
5 630 34196.0 Sale at price 54.28 per share. WILSON MARK ANDREW Officer 2025-11-25 00:00:00 D
6 1157 62802.0 Sale at price 54.28 per share. ZALEVSKY JONATHAN Officer 2025-11-25 00:00:00 D
7 2207 119796.0 Sale at price 54.28 per share. ROBIN HOWARD W Chief Executive Officer 2025-11-25 00:00:00 D
8 7110 Stock Award(Grant) at price 0.00 per share. ROBIN HOWARD W Chief Executive Officer 2025-11-21 00:00:00 D
9 2666 Stock Award(Grant) at price 0.00 per share. ZALEVSKY JONATHAN Officer 2025-11-21 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-8.28K49.56K-93.00K-21.53M
TaxRateForCalcs0.000.000.000.21
NormalizedEBITDA-118.95M-111.42M-114.65M-220.54M
TotalUnusualItems-9.33M24.72M-128.46M-102.50M
TotalUnusualItemsExcludingGoodwill-9.33M24.72M-128.46M-102.50M
NetIncomeFromContinuingOperationNetMinorityInterest-164.08M-118.96M-276.06M-368.20M
ReconciledDepreciation1.03M4.39M7.82M13.03M
ReconciledCostOfRevenue0.0030.69M33.77M21.64M
EBITDA-128.28M-86.70M-243.11M-323.04M
EBIT-129.30M-91.09M-250.92M-336.07M
NetInterestIncome-15.75M-13.61M-6.33M-22.13M
InterestExpense26.18M28.11M25.33M28.91M
InterestIncome10.44M14.50M19.01M6.78M
NormalizedIncome-154.75M-143.63M-147.69M-287.22M
NetIncomeFromContinuingAndDiscontinuedOperation-164.08M-118.96M-276.06M-368.20M
TotalExpenses186.00M228.34M225.35M332.29M
TotalOperatingIncomeAsReported-140.10M-105.20M-263.68M-376.17M
DilutedAverageShares16.87M13.71M12.67M12.48M
BasicAverageShares16.87M13.71M12.67M12.48M
DilutedEPS-9.73-8.68-21.75-29.55
BasicEPS-9.73-8.68-21.75-29.55
DilutedNIAvailtoComStockholders-164.08M-118.96M-276.06M-368.20M
NetIncomeCommonStockholders-164.08M-118.96M-276.06M-368.20M
NetIncome-164.08M-118.96M-276.06M-368.20M
NetIncomeIncludingNoncontrollingInterests-164.08M-118.96M-276.06M-368.20M
NetIncomeContinuousOperations-164.08M-118.96M-276.06M-368.20M
EarningsFromEquityInterestNetOfTax-8.73M0.00
TaxProvision-138.00K-239.00K-200.00K3.21M
PretaxIncome-155.49M-119.20M-276.26M-364.98M
OtherIncomeExpense-8.97M24.33M-134.71M-102.62M
OtherNonOperatingIncomeExpenses361.00K-390.00K-6.25M-116.00K
SpecialIncomeCharges-9.33M24.72M-128.46M-135.93M
GainOnSaleOfPPE0.00-1.30M3.33M
GainOnSaleOfBusiness0.0040.39M0.00
OtherSpecialCharges10.90M
WriteOff0.00
ImpairmentOfCapitalAssets4.44M8.33M111.83M65.76M
RestructuringAndMergernAcquisition4.89M7.34M15.33M73.50M
GainOnSaleOfSecurity33.43M-8.02M
NetNonOperatingInterestIncomeExpense-15.75M-13.61M-6.33M-22.13M
InterestExpenseNonOperating26.18M28.11M25.33M28.91M
InterestIncomeNonOperating10.44M14.50M19.01M6.78M
OperatingIncome-130.77M-129.92M-135.22M-240.24M
OperatingExpense186.00M197.66M191.58M310.66M
ResearchAndDevelopment117.33M120.91M114.16M218.32M
SellingGeneralAndAdministration68.67M76.75M77.42M92.33M
GeneralAndAdministrativeExpense68.67M76.75M77.42M92.33M
OtherGandA68.67M76.75M77.42M92.33M
GrossProfit55.23M67.74M56.35M70.42M
CostOfRevenue0.0030.69M33.77M21.64M
TotalRevenue55.23M98.43M90.12M92.06M
OperatingRevenue55.23M98.43M90.12M92.06M
Line Item2024-12-312023-12-31
TreasurySharesNumber552.33K0.00
OrdinarySharesNumber19.65M12.39M12.76M12.57M
ShareIssued19.65M12.94M12.76M12.57M
TotalDebt85.75M102.56M117.78M131.50M
TangibleBookValue89.83M60.74M130.99M290.14M
InvestedCapital89.83M60.74M130.99M366.64M
WorkingCapital212.73M199.89M279.43M477.76M
NetTangibleAssets89.83M60.74M130.99M290.14M
CapitalLeaseObligations85.75M102.56M117.78M131.50M
CommonStockEquity89.83M60.74M130.99M366.64M
TotalCapitalization89.83M60.74M130.99M366.64M
TotalEquityGrossMinorityInterest89.83M60.74M130.99M366.64M
StockholdersEquity89.83M60.74M130.99M366.64M
GainsLossesNotAffectingRetainedEarnings17.00K61.00K80.00K-6.91M
OtherEquityAdjustments17.00K61.00K80.00K-6.91M
TreasuryStock0.003.00M0.00
RetainedEarnings-3.76B-3.60B-3.48B-3.20B
AdditionalPaidInCapital3.85B3.66B3.61B3.57B
CapitalStock2.00K1.00K19.00K19.00K
CommonStock2.00K1.00K19.00K19.00K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest190.57M243.11M267.05M343.96M
TotalNonCurrentLiabilitiesNetMinorityInterest137.04M181.71M215.78M275.76M
OtherNonCurrentLiabilities71.78M99.02M117.26M162.93M
DerivativeProductLiabilities0.0027.73M
LongTermDebtAndCapitalLeaseObligation65.26M82.70M98.52M112.83M
LongTermCapitalLeaseObligation65.26M82.70M98.52M112.83M
CurrentLiabilities53.54M61.40M51.27M68.20M
CurrentDebtAndCapitalLeaseObligation20.50M19.87M19.26M18.67M
CurrentCapitalLeaseObligation20.50M19.87M19.26M18.67M
PensionandOtherPostRetirementBenefitPlansCurrent2.94M2.83M5.55M9.58M
PayablesAndAccruedExpenses30.10M38.70M26.46M39.95M
CurrentAccruedExpenses19.33M27.14M16.61M26.98M
Payables10.77M11.56M9.85M12.98M
AccountsPayable10.77M11.56M9.85M12.98M
TotalAssets280.41M303.85M398.03M710.60M
TotalNonCurrentAssets14.14M42.56M67.33M164.63M
OtherNonCurrentAssets5.65M4.65M4.64M2.25M
InvestmentsAndAdvances3.49M26.09M25.82M0.00
OtherInvestments13.87M25.82M
InvestmentinFinancialAssets0.0013.87M
AvailableForSaleSecurities13.87M
LongTermEquityInvestment3.49M12.22M0.00
InvestmentsInOtherVenturesUnderEquityMethod3.49M12.22M0.00
GoodwillAndOtherIntangibleAssets0.0076.50M76.50M
Goodwill0.0076.50M76.50M
NetPPE5.00M11.82M36.86M85.89M
AccumulatedDepreciation-15.91M-86.90M-124.73M-148.04M
GrossPPE5.00M11.82M123.76M210.62M
ConstructionInProgress245.00K739.00K2.53M7.16M
OtherProperties5.00M11.82M56.86M102.73M
MachineryFurnitureEquipment14.64M22.98M30.47M38.92M
Properties3.88M43.18M74.89M97.39M
CurrentAssets266.27M261.29M330.70M545.97M
OtherCurrentAssets15.81M23.33M
PrepaidAssets18.73M4.46M8.73M13.38M
Inventory0.0016.10M19.20M15.80M
FinishedGoods0.001.36M5.88M3.29M
WorkInProcess0.0012.88M10.75M9.34M
RawMaterials0.001.86M2.58M3.17M
Receivables1.78M1.61M2.25M8.40M
OtherReceivables1.78M1.61M1.05M2.42M
AccountsReceivable0.001.21M5.98M22.49M
CashCashEquivalentsAndShortTermInvestments245.75M255.23M303.62M504.98M
OtherShortTermInvestments230.64M210.97M268.34M416.75M
CashAndCashEquivalents15.12M44.25M35.28M88.23M
CashEquivalents23.97M
CashFinancial1.25M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow-208.68M-177.18M-193.47M-309.68M
RepurchaseOfCapitalStock0.00-3.00M0.00
RepaymentOfDebt0.000.00
IssuanceOfDebt0.00
IssuanceOfCapitalStock180.85M0.00
CapitalExpenditure-171.00K-1.47M-865.00K-5.68M
InterestPaidSupplementalData0.000.00
IncomeTaxPaidSupplementalData76.00K2.66M272.00K325.00K
EndCashPosition15.12M44.25M35.28M88.23M
BeginningCashPosition44.25M35.28M88.23M25.22M
EffectOfExchangeRateChanges6.00K-4.00K62.00K-327.00K
ChangesInCash-29.14M8.98M-53.01M63.34M
FinancingCashFlow180.57M42.12M30.00K1.51M
CashFlowFromContinuingFinancingActivities180.57M42.12M30.00K1.51M
NetOtherFinancingCharges-1.15M15.00M750.00K3.00M
ProceedsFromStockOptionExercised866.00K30.12M30.00K758.00K
NetCommonStockIssuance180.85M-3.00M0.00
CommonStockPayments0.00-3.00M0.00
CommonStockIssuance180.85M0.00
NetIssuancePaymentsOfDebt0.000.00
NetShortTermDebtIssuance0.00
ShortTermDebtIssuance0.00
NetLongTermDebtIssuance0.000.00
LongTermDebtPayments0.000.00
InvestingCashFlow-1.20M142.57M139.56M365.83M
CashFlowFromContinuingInvestingActivities-1.20M142.57M139.56M365.83M
NetInvestmentPurchaseAndSale-329.00K78.65M139.18M358.31M
SaleOfInvestment284.68M340.36M650.88M826.23M
PurchaseOfInvestment-285.01M-261.71M-511.70M-467.91M
NetBusinessPurchaseAndSale-697.00K65.39M0.00
SaleOfBusiness65.39M0.00
NetPPEPurchaseAndSale-171.00K-1.47M380.00K7.52M
SaleOfPPE0.001.25M13.20M0.00
PurchaseOfPPE-171.00K-1.47M-865.00K-5.68M
OperatingCashFlow-208.51M-175.71M-192.61M-304.01M
CashFlowFromContinuingOperatingActivities-208.51M-175.71M-192.61M-304.01M
ChangeInWorkingCapital-37.02M-6.24M-19.94M492.00K
ChangeInOtherWorkingCapital-15.16M-12.90M-8.85M-2.68M
ChangeInOtherCurrentAssets-15.45M-4.19M3.58M6.91M
ChangeInPayablesAndAccruedExpense-6.41M13.40M-20.15M-16.84M
ChangeInAccruedExpense-5.79M10.73M-17.26M-19.95M
ChangeInPayable-625.00K2.67M-2.88M3.10M
ChangeInAccountPayable-625.00K2.67M-2.88M3.10M
ChangeInInventory0.00497.00K699.00K-3.40M
ChangeInReceivables0.00-3.04M4.78M16.51M
ChangesInAccountReceivables0.00-3.04M4.78M16.51M
OtherNonCashItems-28.75M-36.16M-43.59M-35.93M
StockBasedCompensation12.65M21.61M33.39M57.32M
ProvisionandWriteOffofAssets0.00949.00K2.40M0.00
AssetImpairmentCharge4.44M8.33M111.83M65.76M
AmortizationOfSecurities-5.51M-9.24M-14.86M-2.44M
DeferredTax-140.00K2.71M-102.00K
DeferredIncomeTax-140.00K2.71M-102.00K
DepreciationAmortizationDepletion1.03M4.39M7.82M13.03M
DepreciationAndAmortization1.03M4.39M7.82M13.03M
OperatingGainsLosses8.73M-40.39M6.40M-36.75M
EarningsLossesFromEquityInvestments8.73M0.00
GainLossOnInvestmentSecurities-33.43M8.02M
NetForeignCurrencyExchangeGainLoss0.005.10M0.000.00
GainLossOnSaleOfPPE0.001.30M-3.33M0.00
GainLossOnSaleOfBusiness0.00-40.39M0.00
NetIncomeFromContinuingOperations-164.08M-118.96M-276.06M-368.20M
SEC Filings

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

Public Trades for NKTR
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status