KITE has been the subject of several other research reports. Vetr lowered shares of Kite Pharma from a strong-buy rating to a buy rating and set a $63.91 target price for the company. in a research note on Tuesday, September 13th. Stifel Nicolaus reiterated a buy rating and issued a $74.00 target price on shares of Kite Pharma in a research note on Thursday, September 22nd. Barclays PLC upped their target price on shares of Kite Pharma from $60.00 to $65.00 and gave the stock an equal weight rating in a research note on Tuesday. Jefferies Group reiterated a buy rating and issued a $72.00 target price on shares of Kite Pharma in a research note on Monday, September 19th. Finally, FBR & Co reissued an outperform rating and issued a $75.00 price target on shares of Kite Pharma in a report on Sunday, July 10th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $74.46.
Shares of Kite Pharma (NASDAQ:KITE) opened at 55.98 on Tuesday. Kite Pharma has a 52 week low of $38.41 and a 52 week high of $89.84. The firm has a 50-day moving average of $58.15 and a 200-day moving average of $51.68. The firm’s market cap is $2.78 billion.
Kite Pharma (NASDAQ:KITE) last posted its 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. Kite Pharma had a negative net margin of 873.86% and a negative return on equity of 32.91%. The firm earned $4.80 million during the quarter, compared to analyst estimates of $4.86 million. During the same quarter in the prior year, the business posted ($0.26) EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that Kite Pharma will post ($5.87) EPS for the current year.
In other news, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $56.90, for a total value of $85,350.00. Following the sale, the senior vice president now directly owns 16,367 shares of the company’s stock, valued at $931,282.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $50.94, for a total transaction of $509,400.00. Following the completion of the sale, the chief operating officer now directly owns 105,401 shares in the company, valued at $5,369,126.94. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in KITE. Schwab Charles Investment Management Inc. increased its stake in shares of 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 worth $7,572,000 after buying an additional 14,802 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Kite Pharma during the second quarter worth about $243,000. Legal & General Group Plc increased its stake in shares of Kite Pharma by 16.2% in the second quarter. Legal & General Group Plc now owns 9,023 shares of the biopharmaceutical company’s stock worth $450,000 after buying an additional 1,261 shares during the last quarter. GLG LLC purchased a new stake in shares of Kite Pharma during the second quarter worth about $1,250,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Kite Pharma by 22.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 28,447 shares of the biopharmaceutical company’s stock worth $1,422,000 after buying an additional 5,165 shares during the last quarter. 75.28% of the stock is currently owned by hedge funds and other institutional investors.
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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