Kite Pharma Inc. (KITE) Stock Rating Reaffirmed by BTIG Research
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “neutral” rating reiterated by research analysts at BTIG Research in a research report issued on Tuesday.
Several other research analysts have also recently commented on the company. Jefferies Group reissued a “buy” rating and set a $72.00 price target on shares of Kite Pharma in a research report on Saturday, July 9th. Vetr raised Kite Pharma from a “sell” rating to a “buy” rating and set a $58.58 price target for the company in a research report on Tuesday, August 2nd. Mizuho reissued a “hold” rating and set a $80.00 price target on shares of Kite Pharma in a research report on Friday, July 8th. Stifel Nicolaus increased their price target on Kite Pharma from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, July 13th. Finally, Canaccord Genuity reissued a “buy” rating and set a $75.00 price target on shares of Kite Pharma in a research report on Wednesday, July 13th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Kite Pharma presently has a consensus rating of “Buy” and a consensus target price of $74.46.
Shares of Kite Pharma (NASDAQ:KITE) opened at 56.46 on Tuesday. The stock’s 50 day moving average price is $58.21 and its 200 day moving average price is $51.65. The firm’s market cap is $2.80 billion. Kite Pharma has a one year low of $38.41 and a one year high of $89.84.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.30. The company earned $4.80 million during the quarter, compared to analysts’ expectations of $4.86 million. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. Kite Pharma’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.26) earnings per share. On average, equities analysts anticipate that Kite Pharma will post ($5.87) earnings per share for the current fiscal year.
In other Kite Pharma news, EVP Helen Susan Kim sold 35,900 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $60.27, for a total transaction of $2,163,693.00. Following the transaction, the executive vice president now owns 42,500 shares in the company, valued at approximately $2,561,475. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $50.00, for a total value of $75,000.00. Following the transaction, the senior vice president now owns 16,367 shares in the company, valued at approximately $818,350. The disclosure for this sale can be found here. Company insiders own 20.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of KITE. Strs Ohio bought a new position in Kite Pharma during the second quarter worth approximately $120,000. Picton Mahoney Asset Management bought a new position in Kite Pharma during the second quarter worth approximately $135,000. Howard Hughes Medical Institute raised its position in Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 348 shares during the period. BlackRock Inc. raised its position in Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,926 shares during the period. Finally, Amalgamated Bank bought a new position in Kite Pharma during the second quarter worth approximately $243,000. Hedge funds and other institutional investors own 75.28% 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 eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.
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