Kite Pharma Inc. (NASDAQ:KITE) had its target price boosted by equities researchers at Barclays PLC from $60.00 to $65.00 in a research note issued on Tuesday. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays PLC’s target price suggests a potential upside of 18.22% from the company’s current price.
The analysts wrote, “While we need to wait for clarity on durability, (doctors would like to see a med of ~9+ months), based on the Ph1 ZUMA patients, CRs at 3 months appear to be durable out to 9 months, which is encouraging. It will also be important to see CR rates in both chemo-refractory vs. relapse after stem cell transplant (SCT) (the prior being the higher hurdle), however in our view any differences, unless profound, would be unlikely to prevent approval in both patient settings,”
A number of other analysts also recently weighed in on the stock. Vetr upgraded shares of Kite Pharma from a “buy” rating to a “strong-buy” rating and set a $53.26 target price on the stock in a report on Wednesday, July 20th. Jefferies Group restated a “buy” rating and issued a $72.00 target price on shares of Kite Pharma in a report on Monday, September 19th. FBR & Co restated an “outperform” rating and issued a $75.00 target price on shares of Kite Pharma in a report on Sunday, July 10th. Mizuho restated a “hold” rating and issued a $80.00 target price on shares of Kite Pharma in a report on Friday, July 8th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $74.00 target price on shares of Kite Pharma in a report on Thursday, September 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $74.26.
Kite Pharma (NASDAQ:KITE) traded up 9.15% during trading on Tuesday, reaching $60.01. 4,530,374 shares of the company were exchanged. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $89.84. The stock’s market capitalization is $2.98 billion. The company’s 50-day moving average price is $58.24 and its 200-day moving average price is $51.55.
Kite Pharma (NASDAQ:KITE) last posted its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.30. Kite Pharma had a negative net margin of 873.86% and a negative return on equity of 32.91%. The firm had revenue of $4.80 million for the quarter, compared to the consensus estimate of $4.86 million. During the same period in the previous year, the firm posted ($0.26) EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Kite Pharma will post ($5.82) EPS for the current year.
In other news, SVP Jeffrey Wiezorek sold 1,500 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $50.00, for a total value of $75,000.00. Following the completion of the sale, the senior vice president now owns 16,367 shares in the company, valued at approximately $818,350. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Helen Susan Kim sold 35,900 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $60.27, for a total transaction of $2,163,693.00. Following the completion of the sale, the executive vice president now owns 42,500 shares of the company’s stock, valued at approximately $2,561,475. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of KITE. Strs Ohio acquired a new stake in Kite Pharma during the second quarter valued at approximately $120,000. Picton Mahoney Asset Management acquired a new stake in Kite Pharma during the second quarter valued at approximately $135,000. Howard Hughes Medical Institute raised its stake in Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 348 shares in the last quarter. BlackRock Inc. raised its stake in Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,926 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in Kite Pharma during the second quarter valued at approximately $243,000. Institutional investors and hedge funds 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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