Kite Pharma Inc. (KITE) Stock Rating Reaffirmed by Jefferies Group
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reissued by Jefferies Group in a report issued on Tuesday. They presently have a $72.00 price target on the biopharmaceutical company’s stock. Jefferies Group’s price objective would suggest a potential upside of 27.52% from the company’s previous close.
Other equities analysts also recently issued reports about the company. Barclays PLC increased their target price on Kite Pharma from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 target price on shares of Kite Pharma in a research report on Thursday, September 22nd. Vetr downgraded Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $63.91 target price for the company. in a research report on Tuesday, September 13th. BTIG Research began coverage on Kite Pharma in a research report on Tuesday, August 30th. They issued a “neutral” rating for the company. Finally, Mizuho set a $80.00 target price on Kite Pharma and gave the company a “buy” rating in a research report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $74.46.
Kite Pharma (NASDAQ:KITE) opened at 56.46 on Tuesday. The company’s market capitalization is $2.80 billion. The company has a 50-day moving average price of $58.21 and a 200 day moving average price of $51.65. Kite Pharma has a 12 month low of $38.41 and a 12 month high of $89.84.
Kite Pharma (NASDAQ:KITE) last announced 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. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The business earned $4.80 million during the quarter, compared to the consensus estimate of $4.86 million. During the same period in the prior year, the company earned ($0.26) EPS. Kite Pharma’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that Kite Pharma will post ($5.82) EPS for the current fiscal year.
In related news, COO Cynthia M. Butitta sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $54.13, for a total transaction of $541,300.00. Following the completion of the sale, the chief operating officer now owns 105,477 shares of the company’s stock, valued at $5,709,470.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 16,367 shares of the company’s stock, valued at approximately $818,350. The disclosure for this sale can be found here. Corporate insiders own 20.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in Kite Pharma by 0.5% in the second quarter. Capital Research Global Investors now owns 6,014,453 shares of the biopharmaceutical company’s stock valued at $300,723,000 after buying an additional 31,700 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Kite Pharma by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 3,168,056 shares of the biopharmaceutical company’s stock valued at $158,402,000 after buying an additional 379,661 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Kite Pharma by 6.3% in the second quarter. Vanguard Group Inc. now owns 2,935,406 shares of the biopharmaceutical company’s stock valued at $146,771,000 after buying an additional 173,879 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Kite Pharma by 9.9% in the second quarter. BlackRock Fund Advisors now owns 1,656,795 shares of the biopharmaceutical company’s stock valued at $82,840,000 after buying an additional 148,580 shares during the last quarter. Finally, Capital World Investors raised its position in shares of Kite Pharma by 46.4% in the second quarter. Capital World Investors now owns 1,523,000 shares of the biopharmaceutical company’s stock valued at $76,150,000 after buying an additional 483,000 shares during the last quarter. 75.28% of the stock is owned by institutional investors and hedge funds.
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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