Nektar Therapeutics (NKTR) stock analysis

In our weekly check, Nektar Therapeutics is graded F (A to F). Of 22 checks on debt, profit, cash flow and trend: 5 pass, warnings: 2, red flags: 15.

About Nektar Therapeutics

Nektar Therapeutics is a Healthcare company (Biotechnology) based in the United States, listed on NASDAQ as NKTR.

What our checks show for NKTR

Red flags

• Debt is high against equity (0.15x). That limits room in a downturn.
• Operating profit does not cover the interest bill (-4.2x): interest is paid from cash or new debt.
• Operating cash flow is negative while the company reports a profit: the profit does not arrive as cash.
• Weak EPS forecast
• Analysts expect revenue to shrink about 13.1% a year.
• Analysts expect the net margin to shrink by 288 points from today's -288%.
• Revenue fell 16% a year over the last 3 years.
• Earnings per share fell 39% a year over the last 3 years.
• The company is losing money: the net margin is -288%.
• Free cash flow is negative (-429% of revenue): the business spends more cash than it brings in.
• The price swings a lot: 77.3% annual volatility. Expect large ups and downs.
• The stock has fallen as much as 100% from a peak. Would you have held through that?
• The share count grew by 33.2% in 2 years: each shareholder owns a smaller slice.
• Return on capital (ROCE) is zero or negative: the business does not earn on the money put into it.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• A small company (market value $1.07 billion): usually riskier and followed by fewer analysts.
• The stock is still below its previous peak.

Strengths

• The net margin rose by 226 points over 5 years, to -288%.
• The gross margin is 99.4% and has risen by 23.8 points: pricing power is holding.

Next earnings report: 2026-11-05

Similar companies

REPL · IMTX · AVBP · MNKD · JANX

Questions

What grade does Nektar Therapeutics (NKTR) have?

In our weekly check, Nektar Therapeutics is graded F (A to F). Of 22 checks on debt, profit, cash flow and trend: 5 pass, warnings: 2, red flags: 15. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of NKTR stock?

This week's biggest flags for Nektar Therapeutics: High debt, Weak interest cover, Profits not backed by cash. In total 17 of 22 checks show a warning or a red flag.

What does Nektar Therapeutics do?

Nektar Therapeutics is a Healthcare company (Biotechnology) based in the United States, listed on NASDAQ as NKTR.

When does Nektar Therapeutics report earnings next?

The next earnings report is expected on 2026-11-05. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

Open the full analysis