Stifel Nicolaus reiterated their buy rating on shares of Kite Pharma Inc. (NASDAQ:KITE) in a research report released on Friday morning. They currently have a $74.00 target price on the biopharmaceutical company’s stock.
Several other research firms have also recently commented on KITE. Vetr upgraded shares of Kite Pharma from a hold rating to a buy rating and set a $63.91 price target for the company in a report on Wednesday, September 7th. BTIG Research reiterated a neutral rating on shares of Kite Pharma in a report on Tuesday, September 27th. FBR & Co reiterated an outperform rating and set a $78.00 price target on shares of Kite Pharma in a report on Tuesday, September 27th. Jefferies Group reiterated a buy rating on shares of Kite Pharma in a report on Friday, August 5th. Finally, Barclays PLC set a $60.00 price target on shares of Kite Pharma and gave the stock a hold rating in a report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $74.46.
Shares of Kite Pharma (NASDAQ:KITE) opened at 56.41 on Friday. The company’s market cap is $2.80 billion. The stock’s 50 day moving average is $57.55 and its 200-day moving average is $52.02. Kite Pharma has a 12 month low of $38.41 and a 12 month high of $89.84.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) EPS for the quarter, topping the consensus estimate 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 company earned $4.80 million during the quarter, compared to analysts’ expectations of $4.86 million. During the same quarter in the previous year, the business posted ($0.26) EPS. The firm’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Kite Pharma will post ($5.87) EPS for the current year.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $50.94, for a total transaction of $509,400.00. Following the completion of the transaction, the chief operating officer now owns 105,401 shares in the company, valued at approximately $5,369,126.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Helen Susan Kim sold 35,900 shares of the company’s 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 owns 42,500 shares of the company’s stock, valued at approximately $2,561,475. The disclosure for this sale can be found here. Company insiders own 20.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in KITE. Strs Ohio bought a new position in shares of Kite Pharma during the second quarter worth about $120,000. Picton Mahoney Asset Management bought a new position in shares of Kite Pharma during the second quarter worth about $135,000. Howard Hughes Medical Institute increased its position in shares of Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 348 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Kite Pharma by 115.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,301 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 1,768 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,926 shares in the last quarter. Institutional investors and hedge funds own 75.28% of the company’s stock.
About Kite Pharma
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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