NKTR Stock Analysis: Nektar Therapeutics | NASDAQ

Biotechnology | NASDAQ, USA | Market Cap: 2.175m USD | 12M Return: 219.1% | Charts, Fundamentals & Technical Analysis

Autoimmune Disorders, Oncology Treatments, Fibrotic Diseases, Inflammatory Conditions
Total Rating 36
Safety 40
Buy Signal 0.46
Biotechnology
Industry Rotation: +30.9
Market Cap: 2.18B
Avg Turnover: 67.0M
Risk 3d forecast
Volatility90.6%
VaR 5th Pctl13.2%
VaR vs Median-11.5%
Reward TTM
Sharpe Ratio1.64
Rel. Str. IBD92.9
Rel. Str. Peer Group78.4
Character TTM
Beta2.775
Beta Downside1.430
Hurst Exponent0.530
Drawdowns 3y
Max DD73.20%
CAGR/Max DD1.46
CAGR/Mean DD3.46
EPS (Earnings per Share) EPS (Earnings per Share) of NKTR over the last years for every Quarter: "2021-06": -10.35, "2021-09": -10.5, "2021-12": -0.79, "2022-03": -7.35, "2022-06": -12.75, "2022-09": -4.65, "2022-12": -0.32, "2023-03": -3.75, "2023-06": -4.05, "2023-09": -2.85, "2023-12": -0.22, "2024-03": -2.76, "2024-06": -2.81, "2024-09": -2.65, "2024-12": -0.15, "2025-03": -3.61, "2025-06": -2.95, "2025-09": -1.87, "2025-12": -1.2898, "2026-03": -1.78,
Last SUE: -0.35
Qual. Beats: 0
Revenue Revenue of NKTR over the last years for every Quarter: 2021-06: 28.33, 2021-09: 24.921, 2021-12: 25.009, 2022-03: 24.822, 2022-06: 21.585, 2022-09: 23.625, 2022-12: 22.023, 2023-03: 21.594, 2023-06: 20.499, 2023-09: 24.144, 2023-12: 23.885, 2024-03: 21.639, 2024-06: 23.489, 2024-09: 24.124, 2024-12: 29.175, 2025-03: 10.46, 2025-06: 11.175, 2025-09: 11.79, 2025-12: 21.807, 2026-03: 10.861,
Rev. CAGR: -16.45%
Rev. Trend: -77.8%
Last SUE: 0.03
Qual. Beats: 0

Warnings

Strong Share Dilution
Interest Coverage Ratio Critical
Beneish M-Score Likely Earnings Manipulation
Altman Z'' In Financial Distress Zone

Tailwinds

Rs Leader
Tailwind

Seasonality 10.5 years of data

Jan -0.9% 16
Feb +6.7% 16
Mar -11.3% 29
Apr +3.2% 5
May -4.8% 31
Jun +0.9% 2
Jul +1.7% 8
Aug +1.3% 11
Sep +4.2% 9
Oct -4.6% 21
Nov +0.4% 2
Dec +4.0% 6

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: NKTR Nektar Therapeutics

Nektar Therapeutics is a clinical-stage biopharmaceutical company headquartered in San Francisco, California, focused on discovering and developing immunotherapy medicines for autoimmune, inflammatory, fibrotic, and oncological diseases. Its lead candidate, rezpegaldesleukin, is currently in Phase 2b development for immune system imbalances underlying autoimmune and inflammatory disorders. The broader pipeline includes NKTR-0165 (ulcerative colitis, vitiligo, multiple sclerosis), NKTR-0166 (autoimmune disease), NKTR-422 (fibrotic diseases), and NKTR-255 (solid tumors and large B-cell lymphoma). The company generates revenue and shares development risk through collaboration and licensing agreements with major pharmaceutical partners including Takeda, AstraZeneca, Pfizer, Bristol-Myers Squibb, Merck KGaA, and Roche.

The biopharmaceutical sector typically operates on a long product development cycle, often spanning 10–15 years from discovery to commercialization, with most clinical-stage companies relying heavily on partnership deals and capital markets to fund R&D before any product reaches market. Immunotherapy, Nektars core focus area, is one of the more active segments within pharmaceuticals, attracting significant investment from large-cap drugmakers seeking to expand beyond traditional small-molecule approaches. Nektar was incorporated in 1990 and trades on NASDAQ as a mid-cap stock.

Headlines to Watch Out For
  • Rezpegaldesleukin Phase 2b autoimmune trial data drives stock volatility
  • NKTR-255 solid tumor and lymphoma results key upcoming catalyst
  • Collaboration revenue from Pfizer and BMS offsets R&D burn
Piotroski VR-10 (Strict) 0.0
Net Income: -158.1m TTM > 0 and > 6% of Revenue
FCF/TA: -0.19 > 0.02 and ΔFCF/TA 24.33 > 1.0
NWC/Revenue: 955.1% < 20% (prev 182.2%; Δ 772.8% < -1%)
CFO/TA -0.27 > 3% & CFO -203.8m > Net Income -158.1m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 10.21 > 1.5 & < 3
Outstanding Shares: last quarter (24.7m) vs 12m ago 75.91% < -2%
Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin)
Asset Turnover: 10.91% > 50% (prev 34.05%; Δ -23.14% > 0%)
Interest Coverage Ratio: -4.35 > 6 (EBIT TTM -126.7m / Interest Expense TTM 29.2m)
Altman Z'' -10.12
A: 0.70 (Total Current Assets 589.0m - Total Current Liabilities 57.7m) / Total Assets 763.3m
B: -4.99 (Retained Earnings -3.81b / Total Assets 763.3m)
C: -0.25 (EBIT TTM -126.7m / Avg Total Assets 509.8m)
D: 3.08 (Book Value of Equity 576.2m / Total Liabilities 187.1m)
Altman-Z'' = -10.12 = D
Beneish M -0.23
DSRI: 3.0 (Receivables 3.60m/1.71m, Revenue 55.6m/87.2m)
GMI: 0.75 (GM 74.12% / 98.99%)
AQI: 3.75 (AQ_t 0.22 / AQ_t-1 0.06)
SGI: 0.64 (Revenue 55.6m / 87.2m)
TATA: 0.06 (NI -158.1m - CFO -203.8m) / TA 763.3m)
Beneish M = -0.23 (Cap -4..+1) = D
What is the price of NKTR shares?

As of July 08, 2026, the stock is trading at USD 74.90 with a total of 1,565,908 shares traded. Over the past week, the price has changed by +14.54%, over one month by +32.29%, over three months by -1.76% and over the past year by +219.13%.

Current recommended Stop Loss: 70.30 (which is 6.1% or 1.1 ATR below the current price).

Is NKTR a buy, sell or hold?

Nektar Therapeutics has received a consensus analysts rating of 3.63. Therefore, it is recommended to hold NKTR.

  • StrongBuy: 2
  • Buy: 2
  • Hold: 3
  • Sell: 1
  • StrongSell: 0

What are the forecasts/targets for the NKTR price?
Analysts Target Price 153.3 104.6%
Nektar Therapeutics (NKTR) - Fundamental Data Overview as of 03 July 2026
Market Cap USD = 2.18b (2.18b USD * 1.0 USD.USD)
P/E Forward = 34.0136
P/S = 39.1042
P/B = 4.0933
P/EG = 0.3099
Revenue TTM = 55.6m USD
EBIT TTM = -126.7m USD
EBITDA TTM = -125.9m USD
Long Term Debt = 120.9m USD (estimated: total debt 143.4m - short term 22.5m)
Short Term Debt = 22.5m USD (from shortTermDebt, last quarter)
Debt = 226.6m USD (from shortLongTermDebtTotal, last quarter) + Leases 83.2m
Net Debt = -342.0m USD (calculated: Debt 226.6m - CCE 568.6m)
Enterprise Value = 1.83b USD (2.18b + Debt 226.6m - CCE 568.6m)
Interest Coverage Ratio = -4.35 (Ebit TTM -126.7m / Interest Expense TTM 29.2m)
EV/FCF = -12.48x (Enterprise Value 1.83b / FCF TTM -146.9m)
FCF Yield = -8.01% (FCF TTM -146.9m / Enterprise Value 1.83b)
 FCF Margin = -264.0% (FCF TTM -146.9m / Revenue TTM 55.6m)
 Net Margin = -284.2% (Net Income TTM -158.1m / Revenue TTM 55.6m)
 Gross Margin = unknown ((Revenue TTM 55.6m - Cost of Revenue TTM 561k) / Revenue TTM)
 Tobins Q-Ratio = 2.40 (Enterprise Value 1.83b / Total Assets 763.3m)
Interest Expense / Debt = 12.87% (Interest Expense 29.2m / Debt 226.6m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -100.1m (EBIT -126.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.70 (Total Current Assets 589.0m / Total Current Liabilities 67.7m)
Debt / Equity = 0.39 (Debt 226.6m / totalStockholderEquity, last quarter 576.2m)
 Debt / EBITDA = 2.72 (negative EBITDA) (Net Debt -342.0m / EBITDA -125.9m)
 Debt / FCF = 2.33 (negative FCF - burning cash) (Net Debt -342.0m / FCF TTM -146.9m)
 Total Stockholder Equity = 181.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -31.01% (Net Income -158.1m / Total Assets 763.3m)
RoE = -87.00% (Net Income TTM -158.1m / Total Stockholder Equity 181.7m)
RoCE = -41.86% (EBIT -126.7m / Capital Employed (Equity 181.7m + L.T.Debt 120.9m))
 RoIC = -13.80% (negative operating profit) (NOPAT -100.1m / Invested Capital 725.3m)
 WACC = 15.21% (E(2.18b)/V(2.40b) * Re(15.74%) + D(226.6m)/V(2.40b) * Rd(12.87%) * (1-Tc(0.21)))
Discount Rate = 15.74% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 85.40 | Cagr: 34.32%
 [DCF] Fair Price = unknown (Cash Flow -146.9m)
 EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.35 | # QB: 0
Revenue Correlation: -77.77 | Revenue CAGR: -16.45% | SUE: 0.03 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-2.04 | Chg30d=+0.12% | Revisions=+40% | Analysts=4
EPS next Quarter (2026-09-30): EPS=-0.52 | Chg30d=+55.51% | Revisions=+0% | Analysts=4
EPS current Year (2026-12-31): EPS=-9.54 | Chg30d=+4.69% | Revisions=+0% | GrowthEPS=-10.2% | GrowthRev=-25.4%
EPS next Year (2027-12-31): EPS=-12.56 | Chg30d=-11.79% | Revisions=-50% | GrowthEPS=-31.6% | GrowthRev=-10.5%
[Analyst] Revisions Ratio: -10% (up=3, down=4)