Kite Pharma Inc. (NASDAQ:KITE) – Equities researchers at SunTrust Banks reduced their FY2017 earnings estimates for shares of Kite Pharma in a research report issued on Monday. SunTrust Banks analyst P. Lawson now forecasts that the brokerage will post earnings of ($6.26) per share for the year, down from their previous estimate of ($6.24). SunTrust Banks also issued estimates for Kite Pharma’s FY2018 earnings at ($4.95) EPS, FY2019 earnings at ($0.95) EPS and FY2020 earnings at $3.71 EPS.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating 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 company earned $4.80 million during the quarter, compared to analysts’ expectations of $4.86 million. During the same period last year, the business posted ($0.26) earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year.
A number of other equities analysts have also recently issued reports on the stock. Vetr raised 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 reaffirmed a “buy” rating and set a $72.00 price target on shares of Kite Pharma in a report on Monday, September 19th. FBR & Co reaffirmed an “outperform” rating and set a $75.00 price target on shares of Kite Pharma in a report on Sunday, July 10th. Mizuho reaffirmed a “hold” rating and set a $80.00 price target on shares of Kite Pharma in a report on Friday, July 8th. Finally, Barclays PLC lifted their price target on Kite Pharma from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $74.46.
Kite Pharma (NASDAQ:KITE) traded up 1.3271% during midday trading on Thursday, reaching $56.7229. The company’s stock had a trading volume of 715,323 shares. The firm’s market capitalization is $2.81 billion. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $89.84. The stock’s 50-day moving average price is $58.15 and its 200 day moving average price is $51.68.
A number of institutional investors have recently bought and sold shares of KITE. Capital World Investors boosted its position in Kite Pharma by 46.4% in the second quarter. Capital World Investors now owns 1,523,000 shares of the biopharmaceutical company’s stock valued at $76,150,000 after buying an additional 483,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Kite Pharma by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 3,168,056 shares of the biopharmaceutical company’s stock valued at $158,402,000 after buying an additional 379,661 shares during the last quarter. First Republic Investment Management Inc. boosted its position in Kite Pharma by 101.1% in the first quarter. First Republic Investment Management Inc. now owns 739,867 shares of the biopharmaceutical company’s stock valued at $33,967,000 after buying an additional 372,034 shares during the last quarter. State Street Corp boosted its position in Kite Pharma by 30.6% in the first quarter. State Street Corp now owns 1,332,147 shares of the biopharmaceutical company’s stock valued at $61,162,000 after buying an additional 312,481 shares during the last quarter. Finally, Vivo Capital LLC purchased a new position in Kite Pharma during the first quarter valued at $8,869,000. Hedge funds and other institutional investors own 75.28% of the company’s stock.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $54.13, for a total transaction of $541,300.00. Following the transaction, the chief operating officer now directly owns 105,477 shares in the company, valued at approximately $5,709,470.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jeffrey Wiezorek sold 1,500 shares of Kite Pharma stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $56.90, for a total transaction of $85,350.00. Following the transaction, 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 currently owned by company insiders.
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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