Kite Pharma, Inc. (NASDAQ:KITE) was upgraded by analysts at Vetr from a “strong sell” rating to a “strong-buy” rating in a research note issued on Monday. The firm presently has a $116.82 price objective on the biopharmaceutical company’s stock. Vetr‘s target price indicates a potential upside of 14.24% from the stock’s current price.
A number of other analysts have also recently commented on KITE. Roth Capital set a $93.00 price objective on Kite Pharma and gave the company a “buy” rating in a research report on Monday, March 20th. BTIG Research reiterated a “hold” rating on shares of Kite Pharma in a research report on Thursday, March 30th. Wedbush reiterated a “neutral” rating and set a $60.00 price objective on shares of Kite Pharma in a research report on Monday, April 3rd. Jefferies Group LLC reissued a “buy” rating and set a $101.00 price target on shares of Kite Pharma in a report on Monday, April 3rd. Finally, Maxim Group set a $100.00 price target on Kite Pharma and gave the company a “buy” rating in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $87.38.
Shares of Kite Pharma (NASDAQ KITE) traded down 0.81% during mid-day trading on Monday, reaching $102.26. The company had a trading volume of 601,929 shares. The firm’s market capitalization is $5.78 billion. Kite Pharma has a 12-month low of $39.82 and a 12-month high of $106.80. The stock has a 50 day moving average price of $82.64 and a 200 day moving average price of $69.15.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($1.74) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. The firm had revenue of $9.80 million for the quarter, compared to analysts’ expectations of $8.85 million. Kite Pharma had a negative net margin of 1,166.54% and a negative return on equity of 55.80%. The firm’s revenue was up 92.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.60) EPS. On average, equities analysts forecast that Kite Pharma will post ($8.08) earnings per share for the current year.
In other Kite Pharma news, SVP Jeffrey Wiezorek sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $104.32, for a total transaction of $1,043,200.00. Following the sale, the senior vice president now directly owns 31,071 shares in the company, valued at $3,241,326.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Farah Champsi sold 25,818 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $82.34, for a total value of $2,125,854.12. Following the sale, the director now owns 79,152 shares in the company, valued at $6,517,375.68. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 70,450 shares of company stock valued at $4,863,126 and have sold 371,132 shares valued at $32,078,682. 14.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Winslow Evans & Crocker Inc. bought a new stake in shares of Kite Pharma during the second quarter worth about $124,000. Bank of Montreal Can increased its stake in shares of Kite Pharma by 17.0% in the second quarter. Bank of Montreal Can now owns 8,898 shares of the biopharmaceutical company’s stock worth $923,000 after buying an additional 1,293 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Kite Pharma by 235.0% in the first quarter. Point72 Asset Management L.P. now owns 819,900 shares of the biopharmaceutical company’s stock worth $64,354,000 after buying an additional 575,178 shares during the period. Credit Suisse AG increased its stake in shares of Kite Pharma by 35.9% in the first quarter. Credit Suisse AG now owns 130,758 shares of the biopharmaceutical company’s stock worth $10,263,000 after buying an additional 34,560 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Kite Pharma by 119.6% in the first quarter. Bank of America Corp DE now owns 46,150 shares of the biopharmaceutical company’s stock worth $3,622,000 after buying an additional 25,135 shares during the period. Institutional investors and hedge funds own 85.24% 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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