A number of other analysts have also recently issued reports on KITE. BTIG Research reaffirmed a hold rating on shares of Kite Pharma in a research report on Tuesday, November 22nd. Stifel Nicolaus reaffirmed a buy rating and issued a $74.00 price objective on shares of Kite Pharma in a research report on Friday, September 30th. Jefferies Group reaffirmed a buy rating and issued a $72.00 price objective on shares of Kite Pharma in a research report on Tuesday, November 1st. Vetr cut Kite Pharma from a buy rating to a hold rating and set a $62.43 price objective for the company. in a research report on Tuesday, September 6th. Finally, Canaccord Genuity set a $75.00 price objective on Kite Pharma and gave the company a buy rating in a research report on Tuesday, November 29th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Kite Pharma has an average rating of Buy and an average target price of $71.57.
Shares of Kite Pharma (NASDAQ:KITE) opened at 46.82 on Monday. The firm has a 50-day moving average price of $48.22 and a 200-day moving average price of $52.79. The company’s market capitalization is $2.34 billion. Kite Pharma has a 12 month low of $38.41 and a 12 month high of $75.90.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.63) by $0.14. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The company earned $7.34 million during the quarter, compared to analysts’ expectations of $4.94 million. During the same period last year, the firm posted ($0.38) earnings per share. The business’s revenue was up 43.1% on a year-over-year basis. On average, equities research analysts predict that Kite Pharma will post ($5.56) EPS for the current year.
In related news, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $54.13, for a total transaction of $541,300.00. Following the sale, the chief operating officer now owns 105,477 shares in the company, valued at approximately $5,709,470.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the business’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $50.76, for a total value of $76,140.00. Following the sale, the senior vice president now owns 17,311 shares in the company, valued at approximately $878,706.36. The disclosure for this sale can be found here. 20.60% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Kite Pharma by 5.4% in the first quarter. Geode Capital Management LLC now owns 282,806 shares of the biopharmaceutical company’s stock worth $12,983,000 after buying an additional 14,380 shares in the last quarter. Creative Planning raised its stake in Kite Pharma by 11.2% in the second quarter. Creative Planning now owns 20,215 shares of the biopharmaceutical company’s stock worth $1,011,000 after buying an additional 2,030 shares during the period. Shikiar Asset Management Inc. raised its stake in Kite Pharma by 8.2% in the second quarter. Shikiar Asset Management Inc. now owns 39,500 shares of the biopharmaceutical company’s stock worth $1,975,000 after buying an additional 3,000 shares during the period. Bank of Montreal Can bought a new stake in Kite Pharma during the second quarter worth approximately $320,000. Finally, Strs Ohio bought a new stake in Kite Pharma during the second quarter worth approximately $120,000. Institutional investors and hedge funds own 77.79% 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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