Several other research analysts have also issued reports on KITE. Jefferies Group reiterated a buy rating and issued a $72.00 price target on shares of Kite Pharma in a research note on Saturday, July 9th. Canaccord Genuity reiterated a buy rating and issued a $75.00 price target on shares of Kite Pharma in a research note on Wednesday, July 13th. Stifel Nicolaus reiterated a buy rating and issued a $74.00 price target on shares of Kite Pharma in a research note on Friday, September 30th. Zacks Investment Research upgraded shares of Kite Pharma from a hold rating to a buy rating and set a $57.00 price target for the company in a research note on Tuesday, July 5th. Finally, Maxim Group set a $77.00 price target on shares of Kite Pharma and gave the stock a buy rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Kite Pharma has a consensus rating of Buy and a consensus target price of $74.46.
Kite Pharma (NASDAQ:KITE) traded up 0.11% on Friday, reaching $55.72. 1,130,601 shares of the company’s stock were exchanged. The company’s market cap is $2.76 billion. Kite Pharma has a 52-week low of $38.41 and a 52-week high of $89.84. The firm’s 50 day moving average price is $57.29 and its 200 day moving average price is $52.12.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.21) by $0.30. The company earned $4.80 million during the quarter, compared to analyst estimates of $4.86 million. Kite Pharma had a negative net margin of 873.86% and a negative return on equity of 32.91%. Kite Pharma’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned ($0.26) EPS. On average, analysts expect that Kite Pharma will post ($5.87) earnings per share for the current year.
In related news, SVP Jeffrey Wiezorek sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $56.90, for a total value of $85,350.00. Following the transaction, the senior vice president now owns 16,367 shares of the company’s stock, valued at $931,282.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Helen Susan Kim sold 35,900 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 42,500 shares in the company, valued at approximately $2,561,475. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of KITE. Strs Ohio acquired a new position in Kite Pharma during the second quarter worth about $120,000. Picton Mahoney Asset Management purchased a new stake in Kite Pharma during the second quarter worth approximately $135,000. Howard Hughes Medical Institute boosted 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 worth $172,000 after buying an additional 348 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in 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 during the last quarter. Finally, BlackRock Inc. boosted 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 worth $201,000 after buying an additional 1,926 shares during the last quarter. 75.28% of the stock is currently owned by institutional investors.
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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