Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Goldman Sachs Group Inc. in a research report issued on Monday. They presently have a $70.00 price objective on the biopharmaceutical company’s stock. Goldman Sachs Group Inc.’s target price points to a potential upside of 26.42% from the stock’s previous close.
A number of other research analysts have also issued reports on the company. BTIG Research reissued a “neutral” rating on shares of Kite Pharma in a report on Sunday. Canaccord Genuity set a $75.00 target price on Kite Pharma and gave the company a “buy” rating in a report on Friday, October 7th. Maxim Group set a $77.00 target price on Kite Pharma and gave the company a “buy” rating in a report on Thursday, October 6th. Stifel Nicolaus set a $74.00 target price on Kite Pharma and gave the company a “buy” rating in a report on Thursday, October 6th. Finally, FBR & Co reissued an “outperform” rating and issued a $78.00 target price on shares of Kite Pharma in a report on Tuesday, September 27th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.99.
Kite Pharma (NASDAQ:KITE) opened at 55.37 on Monday. The company’s market capitalization is $2.75 billion. The stock has a 50 day moving average of $57.04 and a 200-day moving average of $52.37. Kite Pharma has a 12-month low of $38.41 and a 12-month high of $89.84.
Kite Pharma (NASDAQ:KITE) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.21) by $0.30. The business had revenue of $4.80 million for the quarter, compared to analyst estimates of $4.86 million. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.26) earnings per share. Equities analysts expect that Kite Pharma will post ($5.87) earnings per share for the current year.
In other news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $50.94, for a total value of $509,400.00. Following the sale, the chief operating officer now directly owns 105,401 shares in the company, valued at $5,369,126.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 16,367 shares in the company, valued at $931,282.30. The disclosure for this sale can be found here. 20.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its stake 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 valued at $184,000 after buying an additional 1,768 shares in the last quarter. 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 acquired 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. Finally, GLG LLC acquired a new position in Kite Pharma during the second quarter valued at $1,250,000. 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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