Kite Pharma, Inc. (NASDAQ:KITE) was upgraded by equities researchers at Vetr from a “strong sell” rating to a “strong-buy” rating in a research report issued on Monday, July 17th. The firm presently has a $116.82 price objective on the biopharmaceutical company’s stock. Vetr‘s price target would indicate a potential downside of 2.68% from the company’s current price.
A number of other equities analysts have also issued reports on the company. Roth Capital set a $93.00 price target on Kite Pharma and gave the company a “buy” rating in a research note on Monday, March 20th. Goldman Sachs Group, Inc. (The) raised their price objective on Kite Pharma from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Canaccord Genuity set a $115.00 price objective on Kite Pharma and gave the stock a “buy” rating in a research note on Monday, July 10th. Wedbush lowered Kite Pharma from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $60.00 to $54.00 in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC set a $101.00 price objective on Kite Pharma and gave the stock a “buy” rating in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.93.
Shares of Kite Pharma (NASDAQ:KITE) opened at 120.04 on Monday. The company has a 50 day moving average price of $107.82 and a 200 day moving average price of $81.83. Kite Pharma has a 12-month low of $39.82 and a 12-month high of $122.19. The company’s market capitalization is $6.86 billion.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.03. The firm 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%. The firm’s quarterly revenue was up 110.4% on a year-over-year basis. During the same period last year, the company posted ($0.91) EPS. Equities analysts anticipate that Kite Pharma will post ($8.35) EPS for the current year.
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In other Kite Pharma news, COO Cynthia M. Butitta sold 5,000 shares of Kite Pharma stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $100.81, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $88.55, for a total value of $885,500.00. Following the sale, the chief operating officer now directly owns 127,795 shares in the company, valued at $11,316,247.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 245,048 shares of company stock worth $25,803,151. 14.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of KITE. BlackRock Inc. boosted its position in 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. TD Asset Management Inc. boosted its position in Kite Pharma by 148.7% in the first quarter. TD Asset Management Inc. now owns 61,550 shares of the biopharmaceutical company’s stock worth $4,831,000 after buying an additional 36,800 shares during the period. Russell Investments Group Ltd. purchased a new position in Kite Pharma during the fourth quarter worth about $801,000. Great West Life Assurance Co. Can boosted its position in Kite Pharma by 28.1% in the first quarter. Great West Life Assurance Co. Can now owns 5,013 shares of the biopharmaceutical company’s stock worth $392,000 after buying an additional 1,100 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in Kite Pharma by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,963 shares of the biopharmaceutical company’s stock worth $985,000 after buying an additional 200 shares during the period. Institutional investors own 84.96% of the company’s stock.
About Kite Pharma
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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