In the latest trading session, Nektar Therapeutics (NKTR - Free Report) closed at $22.81, marking a -0.52% move from the previous day. This change lagged the S&P 500's 0.33% gain on the day. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 0.67%.
Prior to today's trading, shares of the biopharmaceutical company had gained 5.38% over the past month. This has outpaced the Medical sector's gain of 3.75% and the S&P 500's gain of 3.24% in that time.
Wall Street will be looking for positivity from NKTR as it approaches its next earnings report date. In that report, analysts expect NKTR to post earnings of -$0.69 per share. This would mark a year-over-year decline of 21.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $26.34 million, down 33.88% from the year-ago period.
It is also important to note the recent changes to analyst estimates for NKTR. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.39% higher. NKTR is currently a Zacks Rank #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.