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In a challenging year for Nektar Therapeutics (NASDAQ:NKTR), the biopharmaceutical company's stock has plummeted to a 52-week low, touching down at $0.44. According to InvestingPro analysis, the stock's RSI indicates oversold conditions, while the company maintains a healthy current ratio of 4.26, suggesting strong short-term liquidity. This latest price level reflects a stark downturn in investor sentiment as the firm grapples with market pressures and internal hurdles. Over the past year, Nektar Therapeutics has seen its stock value erode significantly, with a 1-year change showing a steep decline of -65.39%. The company, known for its work in developing drug candidates that utilize its polymer conjugate technology platforms, faces a critical period ahead as it seeks to reassure investors and steer back towards growth. With a market capitalization of $83.32 million and annual revenue of $98.43 million, InvestingPro analysis suggests the stock may be undervalued at current levels, though investors should note that 13 additional exclusive ProTips are available for deeper insight.
In other recent news, Nektar Therapeutics reported its Q4 2024 earnings, exceeding analysts' expectations with an earnings per share (EPS) of $0.03, compared to the anticipated loss of $0.16. The company's revenue for the quarter was $29.2 million, slightly below the forecast of $29.81 million. Nektar has also announced a $75 million equity distribution agreement with Piper Sandler & Co. and BTIG, LLC, allowing it to offer and sell shares of its common stock at market discretion. Oppenheimer analyst Jay Olson upgraded Nektar Therapeutics' stock rating to Outperform, setting a price target of $6.00, citing a favorable risk/benefit profile and potential opportunities in atopic dermatitis and other conditions. Meanwhile, BTIG maintained a Neutral rating with a $4.00 price target, highlighting ongoing trials for the drug Rezpeg in atopic dermatitis and alopecia areata. Jefferies adjusted its price target for Nektar to $1.00, maintaining a Hold rating, reflecting on the company's stable financial position and clinical development timelines. Nektar ended 2024 with $269.1 million in cash and equivalents, projecting these funds to support operations into the fourth quarter of 2026.
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