Brokerages predict that Kite Pharma, Inc. (NASDAQ:KITE) will post sales of $9.23 million for the current quarter, according to Zacks. Six analysts have made estimates for Kite Pharma’s earnings, with estimates ranging from $5.20 million to $10.35 million. Kite Pharma posted sales of $4.80 million during the same quarter last year, which would indicate a positive year over year growth rate of 92.3%. The company is expected to report its next earnings report on Tuesday, August 8th.
On average, analysts expect that Kite Pharma will report full year sales of $9.23 million for the current financial year, with estimates ranging from $26.10 million to $49.80 million. For the next financial year, analysts expect that the business will report sales of $183.35 million per share, with estimates ranging from $113.84 million to $228.50 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Kite Pharma.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.40) by $0.54. The business had revenue of $10.10 million for the quarter, compared to the consensus estimate of $9.59 million. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The firm’s revenue was up 110.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.91) earnings per share.
Several research analysts have recently issued reports on KITE shares. Vetr downgraded shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $83.76 price target for the company. in a report on Monday, April 17th. Jefferies Group LLC reissued a “buy” rating on shares of Kite Pharma in a research note on Thursday, April 20th. Canaccord Genuity set a $90.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research report on Thursday, April 20th. UBS AG cut shares of Kite Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, May 8th. Finally, Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Kite Pharma in a research report on Monday, May 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $87.38.
In other news, COO Cynthia M. Butitta sold 10,000 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $88.55, for a total transaction of $885,500.00. Following the sale, the chief operating officer now owns 127,795 shares in the company, valued at approximately $11,316,247.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Roy Doumani sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $84.48, for a total transaction of $1,267,200.00. Following the sale, the director now owns 155,017 shares in the company, valued at approximately $13,095,836.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,099 shares of company stock valued at $16,244,448. Insiders own 14.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of KITE. Hussman Strategic Advisors Inc. bought a new stake in Kite Pharma during the first quarter valued at $2,747,000. Great West Life Assurance Co. Can boosted its stake 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 valued at $392,000 after buying an additional 1,100 shares during the period. Geneva Advisors LLC bought a new stake in Kite Pharma during the first quarter valued at $1,347,000. Essex Investment Management Co. LLC boosted its stake in Kite Pharma by 8.0% in the first quarter. Essex Investment Management Co. LLC now owns 71,160 shares of the biopharmaceutical company’s stock valued at $5,585,000 after buying an additional 5,273 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Kite Pharma by 72.9% in the first quarter. Russell Investments Group Ltd. now owns 30,606 shares of the biopharmaceutical company’s stock valued at $2,403,000 after buying an additional 12,909 shares during the period. Hedge funds and other institutional investors own 84.96% of the company’s stock.
Shares of Kite Pharma (NASDAQ KITE) opened at 120.13 on Wednesday. The company’s market capitalization is $6.79 billion. Kite Pharma has a 52-week low of $39.82 and a 52-week high of $122.19. The company’s 50-day moving average price is $103.84 and its 200-day moving average price is $79.27.
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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