Nektar Therapeutics

Nektar Therapeutics

NKTRยทNASDAQ

$59.23

+1.1%
HealthcareBiotechnology

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19. It is also developing NKTR-358, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 1B clinical trial to treat atopic dermatitis and psoriasis; NKTR-255, an IL-15 receptor agonist, which is in phase 1/2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer and colorectal cancer; and NKTR-262, a toll-like receptor agonist that is in phase 1/2 clinical trial to treat solid tumors, as well as various other drug candidates. The company has collaboration agreements with Takeda Pharmaceutical Company Ltd.; AstraZeneca AB; UCB Pharma S.A.; F. Hoffmann-La Roche Ltd; Bausch Health Companies Inc.; Pfizer Inc.; Amgen Inc.; UCB Pharma (Biogen); Bristol-Myers Squibb Company; Baxalta Incorporated; Eli Lilly and Company; Merck KGaA; and SFJ Pharmaceuticals, Inc. Nektar Therapeutics was incorporated in 1990 and is headquartered in San Francisco, California.

At a Glance

Live Snapshot
Market Cap$1.16B
EPS-9.7300
P/E Ratio-6.09
Earnings Date08/06/2026
Nektar Therapeutics

Nektar Therapeutics Fair Value Envelope

NKTR ยท NASDAQ

Our analysis suggests that NKTR has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $59.23, this represents a potential HIDDEN relative to our calculated worth for Nektar Therapeutics.

Intrinsic Value
Current Price: $59.23

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value-$621.6M
+ Cash & Equivalents$15.1M
Firm Value-$606.5M
- Debt$148.9M
Equity Value-$755.4M
/ Shares Outstanding19,018,600B
DCF Value-$40
OVERVALUED BY 167%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
-$171.4M
-$141.0M
-$115.9M
-$95.3M
-$78.3M
-$64.4M
-$53.0M
-$43.5M
-$35.8M
-$29.4M
Maintenance CapEx
-$28.1K
-$23.1K
-$19.0K
-$15.6K
-$12.8K
-$10.6K
-$8.7K
-$7.1K
-$5.9K
-$4.8K
Owner Earnings
-$171.5M
-$141.0M
-$115.9M
-$95.3M
-$78.4M
-$64.4M
-$53.0M
-$43.5M
-$35.8M
-$29.4M
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
-$158.8M
-$120.9M
-$92.0M
-$70.0M
-$53.3M
-$40.6M
-$30.9M
-$23.5M
-$17.9M
-$13.6M
Terminal Value represents 0.0% of Enterprise Value
Negative Owner Earnings
This company generates negative free cash flow. Consider adjusting maintenance CapEx percentage or check the financial data.