Jefferies Group reissued their buy rating on shares of Kite Pharma Inc. (NASDAQ:KITE) in a research note published on Monday morning. They currently have a $72.00 target price on the biopharmaceutical company’s stock.
KITE has been the subject of a number of other reports. Mizuho reiterated a buy rating and issued a $80.00 price objective on shares of Kite Pharma in a report on Friday, July 15th. Vetr cut Kite Pharma from a buy rating to a hold rating and set a $53.26 target price for the company. in a report on Tuesday, July 26th. Cowen and Company restated a buy rating on shares of Kite Pharma in a report on Monday, June 20th. Barclays PLC set a $60.00 target price on Kite Pharma and gave the company a hold rating in a report on Tuesday, August 9th. Finally, FBR & Co restated a buy rating on shares of Kite Pharma in a report on Thursday, June 2nd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Kite Pharma currently has a consensus rating of Buy and an average price target of $73.93.
Shares of Kite Pharma (NASDAQ:KITE) opened at 54.93 on Monday. Kite Pharma has a 12-month low of $38.41 and a 12-month high of $89.84. The company’s market cap is $2.72 billion. The stock’s 50 day moving average price is $58.45 and its 200 day moving average price is $51.48.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.30. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The firm earned $4.80 million during the quarter, compared to analysts’ expectations of $4.86 million. During the same period in the prior year, the business earned ($0.26) EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts forecast that Kite Pharma will post ($5.82) EPS for the current year.
In related news, EVP Helen Susan Kim sold 35,900 shares of Kite Pharma stock in a transaction on Monday, August 15th. The stock was sold at an average price of $60.27, for a total transaction of $2,163,693.00. Following the transaction, the executive vice president now directly owns 42,500 shares in the company, valued at $2,561,475. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey Wiezorek sold 1,500 shares of Kite Pharma stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $58.24, for a total value of $87,360.00. The disclosure for this sale can be found here. 20.60% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in KITE. Schwab Charles Investment Management Inc. increased its position in Kite Pharma by 10.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 151,428 shares of the biopharmaceutical company’s stock valued at $7,572,000 after buying an additional 14,802 shares during the period. Amalgamated Bank bought a new position in Kite Pharma during the second quarter valued at $243,000. Legal & General Group Plc increased its position in Kite Pharma by 16.2% in the second quarter. Legal & General Group Plc now owns 9,023 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 1,261 shares during the period. GLG LLC bought a new position in Kite Pharma during the second quarter valued at $1,250,000. Finally, Metropolitan Life Insurance Co. NY increased its position in Kite Pharma by 22.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 28,447 shares of the biopharmaceutical company’s stock valued at $1,422,000 after buying an additional 5,165 shares during the period. Institutional investors own 75.28% of the company’s stock.
Kite Pharma Company Profile
Kite Pharma, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.
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