Canaccord Genuity restated their buy rating on shares of Kite Pharma Inc (NASDAQ:KITE) in a research report released on Monday. They currently have a $90.00 target price on the biopharmaceutical company’s stock.
Several other research firms have also recently weighed in on KITE. Roth Capital set a $93.00 price objective on shares of Kite Pharma and gave the stock a buy rating in a research report on Monday, March 20th. Maxim Group reaffirmed a buy rating and set a $84.00 price objective on shares of Kite Pharma in a research report on Saturday, March 11th. Standpoint Research cut shares of Kite Pharma from a buy rating to a hold rating and set a $85.00 target price for the company. in a report on Monday, March 13th. Jefferies Group LLC reissued a buy rating and issued a $101.00 target price (up previously from $82.00) on shares of Kite Pharma in a report on Thursday, March 16th. Finally, Vetr cut shares of Kite Pharma from a sell rating to a strong sell rating and set a $70.37 target price for the company. in a report on Thursday, March 9th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Kite Pharma currently has an average rating of Buy and a consensus target price of $80.46.
Shares of Kite Pharma (NASDAQ:KITE) traded down 2.03% during trading on Monday, reaching $79.50. 989,168 shares of the company’s stock were exchanged. Kite Pharma has a 52-week low of $39.82 and a 52-week high of $88.58. The firm’s market capitalization is $3.99 billion. The company has a 50 day moving average of $79.02 and a 200 day moving average of $57.60.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Tuesday, February 28th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.75) by $0.05. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. The business earned $4.90 million during the quarter, compared to analysts’ expectations of $5.74 million. During the same quarter in the prior year, the business posted ($0.54) earnings per share. Kite Pharma’s revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that Kite Pharma will post ($8.14) earnings per share for the current fiscal year.
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In related news, Director Roy Doumani sold 18,800 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $74.46, for a total value of $1,399,848.00. Following the transaction, the director now directly owns 121,017 shares in the company, valued at approximately $9,010,925.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Farah Champsi sold 115,376 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $82.42, for a total value of $9,509,289.92. The disclosure for this sale can be found here. Insiders have sold a total of 299,876 shares of company stock worth $22,663,456 over the last 90 days. Company insiders own 20.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Seven Eight Capital LP purchased a new position in shares of Kite Pharma during the fourth quarter worth about $197,000. Howard Hughes Medical Institute boosted its position in shares of Kite Pharma by 7.8% in the third quarter. Howard Hughes Medical Institute now owns 3,700 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 269 shares in the last quarter. BlackRock Inc. boosted its position in shares of Kite Pharma by 2.2% in the third quarter. BlackRock Inc. now owns 4,112 shares of the biopharmaceutical company’s stock worth $229,000 after buying an additional 90 shares in the last quarter. Opus Point Partners Management LLC purchased a new position in shares of Kite Pharma during the fourth quarter worth about $241,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Kite Pharma during the fourth quarter worth about $269,000. Institutional investors own 80.73% 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 target and kill cancer cells. The Company offers engineered autologous cell therapy, which is an approach to the treatment of cancer. Its therapy involves modifying a patient’s T cells outside the patient’s body, or ex vivo, causing the T cells to express chimeric antigen receptors (CARs), or T cell receptors (TCRs), and then reinfusing the engineered T cells back into the patient.
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