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Stock Ratings / Health Care / NKTR
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Nektar Therapeutics (NKTR) — RQD Stock Rating Cockpit

$38.87 -0.79% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $38.74

Nektar Therapeutics (NKTR) carries a Roarable Rating of E (Strong Sell) with 20/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E • RED ALERT Cap $1.33B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on NKTR Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is NKTR stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, Nektar Therapeutics (NASDAQ: NKTR) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 20/100 at a spot price of $38.87 (-0.79% 1D, market cap $1.33B). Pillar breakdown: Fundamental Cash Engine 5/20, Institutional 13F & Options Flow 4/20, SEC Balance-Sheet Forensics 5/20, FRED Macro Regime Fit 3/20, and Executive Insider Alignment 3/20. Across 1015 tracked Health Care issuers, NKTR ranks #974 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does NKTR compare to DMRA and KARD in the Health Care sector?
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Within the Health Care sector (Biotechnology: Pharmaceutical Preparations), NKTR carries a Roarable E (20/100 RQD), trailing P/E of N/A, gross margin of 96.0%, and ROIC of -35.0%. By comparison, DMRA (Damora Therapeutics Inc.) holds a D- grade (35/100 RQD, P/E N/A, ROIC -35.0%, cap $1.33B) and KARD (Kardigan Inc.) posts a D grade (46/100 RQD, P/E N/A, ROIC —, cap $1.32B). Among the 5-stock peer group, NKTR leads on earnings multiple (N/A) while NKTR leads on capital efficiency (-35.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for NKTR?
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Per NKTR's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000906709), Nektar Therapeutics generated $55.2M in revenue (-43.9% YoY), -$164.0M in net income, and -$208.7M in free cash flow against $280.4M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $38.74 (-0.33%)🧬 Dilution Drag (+2.48% YoY Shares)⚙️ Cash Engine: 5/20 (E) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (20/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-11.8% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERRED ALERT • E
025507510020
3-of-3 JEV AI Jury Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk E
Cash (5)Whales (4)SEC (5)Macro (3)CEO (3)
Each axis scored 0–20
12M PRICE TARGET CONE-17.1% Base Target
$114 Bull$32 Base$25 Bear
📬 FREE NKTR RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for NKTR)Realized 20D OHLCV Swing Band: ±9.1%
Deterministic 5-Pillar Attribution (20/100 Composite)
🔍 WHY NKTR SCORES 20/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Cash Engine Quality+5/20 pts (25% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 100% Gross Margin

▲ #2 Bullish Driver: SEC 10-K Forensic Risk+5/20 pts (25% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 2/9

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
15
Grade E$37.92+3.4% Next Q
Q2 (-2Q)
16
Grade E$39.22-3.2% Next Q
Q3 (-1Q)
18
Grade E$37.97+2.4% Next Q
Current
20
Grade E$38.87-11.8% Hist 90D α
Trajectory: E (15) → E (20)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a NKTR Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While NKTR currently carries a cautious 20/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($54.29) and Max Pain ($40.81) forces dealer call-delta covering toward $114.45.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $NKTR• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “NKTR Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 20%NO 80%Trade / Inspect Odds →
RSI-14 MOMENTUMNEUTRAL RANGE
35.230 Oversold · 70 Hot
ALTMAN-Z SHIELDFORTRESS SAFE (>3.0)
3.80>3.0 Fortress Safe
PIOTROSKI F-SCOREWEAK QUALITY (1–4)
2 / 99-Pt Accounting
52-WEEK LASER RANGE7% OF RANGE
L: $33$38.87H: $109
1. Money & Cash Health● WEAK
Are profits real cash in the bank?

Weak cash conversion or heavy valuation strain compared to actual cash earned.

Factor Grade: ERQD 5 / 20
2. Big Money & Insiders● TRIMMING
Are whales & executives buying or selling?

Insiders and big institutional desks have been trimming shares rather than stepping up to buy.

Factor Grade: ERQD 7 / 40
3. Hidden Risks & Market Weather● WARNING
SEC fine-print scan & interest-rate fit

High sensitivity to tight interest rates or new risk warnings added to recent SEC annual filings.

Factor Grade: ERQD 8 / 40
MULTI-MODEL JEV QUANT JURY DELIBERATION

3-of-3 JEV AI Jury Bearish Warning on NKTR

Cash & Moat Bull AI
ROIC & Free Cash Flow Model
BEARISH (25)

-35.0% ROIC with 96.0% gross margin and -15.60% FCF yield.

SEC Forensic Auditor AI
10-K Accruals & Altman-Z Guard
BEARISH (25)

Altman-Z 4.20 and Piotroski 2/9 pass balance-sheet audit.

Whale & Macro Hawk AI
Options Skew, 13F & Fed NetLiq
BEARISH (18)

7/40 institutional & smart-money positioning score with 3/20 macro alignment.

Bull Case: Why Buyers Like NKTR
  • ✓Established market leader in Health Care with deep daily trading liquidity.
Bear Case: What Could Go Wrong
  • !Company executives have done more routine share selling than personal cash buying lately.
  • !Sensitive to high interest rates and tighter Federal Reserve market liquidity.
  • !Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins.
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring NKTR)

  • ✓Walkthrough of NKTR's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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NKTR // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -55.27%📐 HORIZONTAL RANGE
2026-11-03O $39.18H $39.18L $38.87C $38.87VOL 601.1K
RES: $78.24SUP: $30.07SMA50: $54.29SMA200: $65.03
$91.77$76.55$61.33$46.11$30.89RES $78.24SUP $30.07$38.872026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

NKTR Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 NKTR Butterfly Map → + Track NKTR →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
8.0%/yr Implied 5Y Growth

vs. -43.9% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on NKTR today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for NKTR. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for NKTR today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (NKTR)

Health Care Rank #974 of 1015 ⚔️ DMRA vs NKTR Full Matrix →

1. Head-to-Head Health Care Peer Comparison (NKTR vs. DMRA, KARD, OMER, AAPG)

Industry: Biotechnology: Pharmaceutical Preparations (489 Tracked Issuers)

Across 1015 tracked Health Care securities in the Roarable RQD universe, Nektar Therapeutics (NKTR) ranks #974 by composite RQD confidence (20/100, grade E) and #317 by equity capitalization ($1.33B). Within this direct 5-issuer industry benchmark cohort, NKTR leads on earnings valuation at N/A trailing P/E, while NKTR leads on capital efficiency and profitability with -35.0% ROIC and 96.0% gross margin. KARD currently holds the highest overall quantitative score in the immediate peer group at 46/100 (D) compared with NKTR at 20/100 (E).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
NKTR ACTIVE
Nektar Therapeutics
E 20/100 — 96.0% -35.0% -0.79% $1.33B Benchmark Subject
DMRA
Damora Therapeutics Inc.
D- 35/100 — — -35.0% -2.36% $1.33B /dmra-vs-nktr →
KARD
Kardigan Inc.
D 46/100 — — — -1.26% $1.32B /kard-vs-nktr →
OMER
Omeros Corporation
D- 41/100 — — -35.0% -2.69% $1.33B /omer-vs-nktr →
AAPG
Ascentage Pharma Group International American Depository Shares
D 45/100 — — — -2.85% $1.35B /aapg-vs-nktr →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0000906709 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Nektar Therapeutics (NKTR) reported GAAP revenue of $55.2M (-43.9% vs. FY2024 revenue of $98.4M , and -38.7% cumulative change since FY2023) , GAAP net income of -$164.0M, operating cash flow of -$208.5M, and free cash flow of -$208.7M (-17.8% YoY). On the balance sheet, NKTR closed FY2025 with $280.4M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 2/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $55.2M -$164.0M -$208.5M -$208.7M $280.4M —
FY2024 (FY) 2024-12-31 $98.4M -$119.0M -$175.7M -$177.2M $303.9M —
FY2023 (FY) 2023-12-31 $90.1M -$276.0M -$192.6M -$192.6M — —

3. NKTR Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is NKTR stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Nektar Therapeutics (NASDAQ: NKTR) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 20/100 at a spot price of $38.87 (-0.79% 1D, market cap $1.33B). Pillar breakdown: Fundamental Cash Engine 5/20, Institutional 13F & Options Flow 4/20, SEC Balance-Sheet Forensics 5/20, FRED Macro Regime Fit 3/20, and Executive Insider Alignment 3/20. Across 1015 tracked Health Care issuers, NKTR ranks #974 in composite RQD confidence.

How does NKTR compare to DMRA and KARD in the Health Care sector?

Within the Health Care sector (Biotechnology: Pharmaceutical Preparations), NKTR carries a Roarable E (20/100 RQD), trailing P/E of N/A, gross margin of 96.0%, and ROIC of -35.0%. By comparison, DMRA (Damora Therapeutics Inc.) holds a D- grade (35/100 RQD, P/E N/A, ROIC -35.0%, cap $1.33B) and KARD (Kardigan Inc.) posts a D grade (46/100 RQD, P/E N/A, ROIC —, cap $1.32B). Among the 5-stock peer group, NKTR leads on earnings multiple (N/A) while NKTR leads on capital efficiency (-35.0% ROIC).

What are the biggest fundamental strengths and SEC risk factors for NKTR?

Per NKTR's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000906709), Nektar Therapeutics generated $55.2M in revenue (-43.9% YoY), -$164.0M in net income, and -$208.7M in free cash flow against $280.4M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is NKTR trading relative to its 50-day, 200-day, and 52-week technical levels?

NKTR last traded at $38.87 (-0.79% on volume of 601,063 shares), positioning the stock -28.40% below its 50-day simple moving average ($54.29) and -40.23% below its 200-day simple moving average ($65.03). Across its 52-week range of $33.40 to $109.00, NKTR sits at the 7.2% percentile with a 14-day RSI of 35.2 (NEUTRAL RANGE) and an implied next-earnings move of ±9.1% ($35.33 to $42.41).

Direct Sub-Reports: NKTR RQD Cockpit NKTR 12M Forecast NKTR Earnings & Move NKTR Dividends & DRIP NKTR Insiders & 13F NKTR Whale Options NKTR Profit Sankey NKTR News & Why
ROARABLE RATING BRIEF • RQD 20/100 (E) ✓ SEC XBRL & RQD VERIFIED

NKTR — Nektar Therapeutics: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Nektar Therapeutics (NKTR) earns a live Roarable RQD composite score of 20/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $38.87 (-0.79% 1D, market capitalization $1.33B).

  • Fundamental Cash Engine (5/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of 96.0%, operating margin of -60.0%, and free cash flow yield of -15.60%.
  • Whale 13F & Options Flow (4/20) + Insider Conviction (3/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (3/20) + Forensic Balance Sheet (5/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 2/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Nektar Therapeutics is a NASDAQ-listed issuer in the Health Care sector, operating within the Biotechnology: Pharmaceutical Preparations industry..3B.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Nektar Therapeutics (NKTR) reported $55.2M in annual revenue (up from $98.4M in FY2024, -43.9% YoY) and -$164.0M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($90.1M revenue, -$276.0M net income) through FY2025, NKTR scaled operating cash flow to -$208.5M and free cash flow to -$208.7M, backed by $280.4M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (E • RQD 20/100): Established market leader in Health Care with deep daily trading liquidity. Free cash flow yield of -15.60% and institutional whale pillar of 4/20. With Fundamental Cash Engine at 5/20 and Institutional Whale Flow at 4/20, sustained execution supports upside toward the upper end of the $33.40 – $109.00 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against -60.0% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

— for upstream dependencies, downstream customers, or sector correlations beyond the sector and industry classification.

  • Key Question #1: Can NKTR sustain or expand its -60.0% operating margin and -35.0% ROIC against Biotechnology: Pharmaceutical Preparations peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $55.2M and free cash flow of -$208.7M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is NKTR's equity valuation to Health Care capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

NKTR Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Nektar Therapeutics (NKTR) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to NKTR Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

NKTR Bull vs. Bear Conversation Board — What's Your Call at $38.87?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON NKTR 🐻 33% BEARISH CONVICTION
1. Pick Your Side on NKTR:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
TA TapeReader_Pro RQD DEBATE OPENER • Price Action & Volume Trader 🐂 BULLISH 🎯 Target: $47.42 (+22.0%)
📌 Pinned Debate

The stock trades at $39.18, well below its $109 52-week high, with the news feed noting a Phase III trial launch as a potential catalys

Picked up a starter position in NKTR in my $100K Virtual Cash book at $38.87. The stock trades at $39.18, well below its $109 52-week high, with the news feed noting a Phase III trial launch as a potential catalyst.. Trading inside a $33.40–$109.00 52-week range with -15.6% FCF yield gives solid downside support if Biotechnology: Pharmaceutical Preparations multiples expand this quarter.

CapAlloc_Nerd 🐂 BULL

@TapeReader_Pro Agree on the RQD 20/100 quality, though with 1.0 beta I'm scaling in with half-size at $38.87 and keeping dry powder in case we test $36.15.

CR CreditSpread_Watch RQD DEBATE OPENER • Balance Sheet Analyst 🐻 BEARISH 🎯 Target: $29.54 (-24.0%)
Spot @ $38.87

Free cash flow of -$208.7M against only $15.1M in cash and a 2025 revenue decline to $55.2M signal a severe funding and cash-burn risk.

Here is the bear case nobody on the bull side wants to address on NKTR: Free cash flow of -$208.7M against only $15.1M in cash and a 2025 revenue decline to $55.2M signal a severe funding and cash-burn risk.. At current EV/EBITDA multiples, even a small guidance miss in Biotechnology: Pharmaceutical Preparations triggers a 12-15% air pocket.

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