NKTR
Nektar Therapeutics
NKTR lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to grow, though they disagree widely on how much.
NKTR Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Weak | |
| Unavailable |
NKTR's revenue, profitability and cash flow are currently under pressure. There isn't enough data to rate its balance sheet.
NKTR PE Valuation
NKTR has no meaningful PE right now: it lost money over the past year.
NKTR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Stable | |
| -- | |
| Moderate | |
| Low |
Analysts expect NKTR's losses to grow, with revenue holding steady. However, they disagree widely on these estimates.
NKTR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$9.59 | -$0.94 |
| Q1 2026 | -$11.31 | -$1.86 |
| Q4 2025 | -$13.09 | -$4.39 |
| Q3 2025 | -$7.82 | +$4.63 |
| Q2 2025 | -$8.65 | +$4.70 |
| Q1 2025 | -$9.45 | +$4.20 |
| Q4 2024 | -$8.70 | +$13.05 |
| Q3 2024 | -$12.45 | +$10.95 |
NKTR is still losing money, but far less than before: $9.59 per share over the past year, against $40.80 at its worst in late 2021.
NKTR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $10.1M | -9.3% |
| Q1 2026 | $10.9M | +3.8% |
| Q4 2025 | $21.8M | -25% |
| Q3 2025 | $11.8M | -51% |
| Q2 2025 | $11.2M | -52% |
| Q1 2025 | $10.5M | -52% |
| Q4 2024 | $29.2M | +22% |
| Q3 2024 | $24.1M | -0.1% |
NKTR's revenue has slid since its 2020 peak: $10M last quarter, down 9.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -418% | -94 points |
| Q1 2026 | -360% | +66 points |
| Q4 2025 | -127% | -176 points |
| Q3 2025 | -269% | -126 points |
| Q2 2025 | -324% | -112 points |
| Q1 2025 | -426% | -262 points |
| Q4 2024 | 49% | +190 points |
| Q3 2024 | -142% | +43 points |
NKTR's operating margin was −418% last quarter, down 94 points from the same quarter a year ago.
NKTR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$75.9M | -$30.1M |
| Q1 2026 | -$44.3M | +$4.7M |
| Q4 2025 | -$65M | -$18.3M |
| Q3 2025 | -$48.9M | -$4.3M |
| Q2 2025 | -$45.8M | -$7.9M |
| Q1 2025 | -$49.1M | -$1M |
| Q4 2024 | -$46.6M | +$638K |
| Q3 2024 | -$44.6M | -$2.4M |
NKTR has burned cash in almost every quarter: −$234M over the past year, against −$186M the year before.
NKTR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +34% | +8.3M shares |
| 1 year | +135% | +19M shares |
| 3 years | +163% | +20.5M shares |
| 5 years | +173% | +21M shares |
| Available history | +183% | +21.4M shares |
NKTR has 33M diluted shares, up 135% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $3M |
NKTR Net Leverage
NKTR's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
NKTR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.4 | Neutral |
| Stochastic | 5.2 | Oversold |
NKTR's weekly RSI is 30 (neutral) and its Stochastic is 5 (oversold).
NKTR PE vs Healthcare Sector
NKTR has no meaningful PE right now: it lost money over the past year.
NKTR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $41.0 | 9.2% below |
| 20 week MA | $59.3 | 37% below |
| 50 week MA | $61.3 | 39% below |
| 100 week MA | $43.7 | 15% below |
| 200 week MA | $29.5 | 26% above |
NKTR has fallen below most of its moving averages, though it's still 26% above its 200-week average.
NKTR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $323.6 | $276.8 | -14% |
| 2021 | $276.8 | $235.1 | -15% |
| 2022 | $235.1 | $32.3 | -86% |
| 2023 | $32.3 | $8.48 | -74% |
| 2024 | $8.48 | $14.2 | +68% |
| 2025 | $14.2 | $44.5 | +212% |
| 2026 YTD | $44.5 | $37.3 | -16% |
NKTR's yearly returns have swung widely, from +212% in 2025 to −86% in 2022. It's down 16% so far in 2026.