Kite Pharma, Inc. (NASDAQ:KITE) – Equities research analysts at SunTrust Banks issued their Q1 2018 earnings per share (EPS) estimates for shares of Kite Pharma in a report issued on Tuesday. SunTrust Banks analyst P. Lawson anticipates that the biopharmaceutical company will earn ($2.26) per share for the quarter. SunTrust Banks also issued estimates for Kite Pharma’s Q2 2018 earnings at ($2.26) EPS, Q3 2018 earnings at ($2.21) EPS, Q4 2018 earnings at ($1.96) EPS and FY2020 earnings at $0.99 EPS.
Several other analysts also recently weighed in on KITE. Canaccord Genuity set a $90.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, June 6th. Vetr downgraded shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price target for the company. in a research note on Monday. Cowen and Company reaffirmed a “buy” rating on shares of Kite Pharma in a research note on Wednesday, June 7th. FBR & Co reaffirmed a “buy” rating on shares of Kite Pharma in a research note on Tuesday, May 30th. Finally, Wedbush reaffirmed an “underperform” rating and set a $54.00 price target on shares of Kite Pharma in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $88.93.
Kite Pharma (NASDAQ:KITE) traded down 0.112% on Wednesday, reaching $120.465. The company’s stock had a trading volume of 608,452 shares. The firm has a 50-day moving average of $107.08 and a 200-day moving average of $81.31. Kite Pharma has a one year low of $39.82 and a one year high of $122.19. The company’s market capitalization is $6.89 billion.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.03. The business had revenue of $10.10 million during the quarter, compared to analyst estimates of $9.59 million. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. Kite Pharma’s quarterly revenue was up 110.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.91) EPS.
In other Kite Pharma news, COO Cynthia M. Butitta sold 5,000 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $100.81, for a total value of $504,050.00. Following the sale, the chief operating officer now directly owns 114,845 shares of the company’s stock, valued at $11,577,524.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Helen Susan Kim sold 79,949 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $119.56, for a total transaction of $9,558,702.44. Following the completion of the sale, the executive vice president now directly owns 98,613 shares in the company, valued at $11,790,170.28. The disclosure for this sale can be found here. Insiders have sold 245,048 shares of company stock worth $25,803,151 over the last three months. Corporate insiders own 14.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares during the period. Point72 Asset Management L.P. increased its position 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. Vanguard Group Inc. increased its position in shares of Kite Pharma by 16.1% in the first quarter. Vanguard Group Inc. now owns 3,661,547 shares of the biopharmaceutical company’s stock worth $287,395,000 after buying an additional 507,289 shares during the period. Columbia Wanger Asset Management LLC purchased a new position in shares of Kite Pharma during the first quarter worth $35,452,000. Finally, Norges Bank purchased a new position in shares of Kite Pharma during the fourth quarter worth $16,848,000. 84.96% of the stock is currently owned by 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 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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