FY2017 EPS Estimates for Kite Pharma Inc. (KITE) Cut by Analyst
Kite Pharma Inc. (NASDAQ:KITE) – Research analysts at SunTrust Banks decreased their FY2017 earnings per share (EPS) estimates for Kite Pharma in a research report issued on Monday. SunTrust Banks analyst P. Lawson now forecasts that the brokerage will post earnings per share of ($6.26) for the year, down from their previous forecast of ($6.24). SunTrust Banks also issued estimates for Kite Pharma’s FY2018 earnings at ($4.95) EPS, FY2019 earnings at ($0.95) EPS and FY2020 earnings at $3.71 EPS.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.30. The firm earned $4.80 million during the quarter, compared to the consensus estimate of $4.86 million. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.26) earnings per share.
Other research analysts also recently issued research reports about the company. Canaccord Genuity restated a “buy” rating and set a $75.00 price target on shares of Kite Pharma in a report on Wednesday, July 13th. Stifel Nicolaus boosted their price target on Kite Pharma from $63.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, July 13th. Zacks Investment Research upgraded Kite Pharma from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Tuesday, July 5th. Cowen and Company restated a “buy” rating on shares of Kite Pharma in a report on Monday, June 20th. Finally, Mizuho restated a “buy” rating and set a $80.00 price target on shares of Kite Pharma in a report on Wednesday, June 8th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Kite Pharma currently has an average rating of “Buy” and a consensus price target of $74.46.
Shares of Kite Pharma (NASDAQ:KITE) traded down 0.21% during mid-day trading on Thursday, hitting $55.86. The stock had a trading volume of 1,425,909 shares. The stock’s 50-day moving average price is $58.07 and its 200-day moving average price is $51.73. Kite Pharma has a 52-week low of $38.41 and a 52-week high of $89.84. The firm’s market cap is $2.77 billion.
A number of institutional investors have recently made changes to their positions in KITE. Schwab Charles Investment Management Inc. raised its position in shares of Kite Pharma by 10.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 151,428 shares of the biopharmaceutical company’s stock worth $7,572,000 after buying an additional 14,802 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Kite Pharma during the second quarter worth $243,000. Legal & General Group Plc raised its position in shares of Kite Pharma by 16.2% in the second quarter. Legal & General Group Plc now owns 9,023 shares of the biopharmaceutical company’s stock worth $450,000 after buying an additional 1,261 shares during the last quarter. GLG LLC purchased a new position in shares of Kite Pharma during the second quarter worth $1,250,000. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Kite Pharma by 22.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 28,447 shares of the biopharmaceutical company’s stock worth $1,422,000 after buying an additional 5,165 shares during the last quarter. Institutional investors own 75.28% of the company’s stock.
In related news, SVP Jeffrey Wiezorek sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $58.24, for a total value of $87,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $50.94, for a total transaction of $509,400.00. Following the completion of the transaction, the chief operating officer now owns 105,401 shares of the company’s stock, valued at $5,369,126.94. The disclosure for this sale can be found here. 20.60% of the stock is owned by insiders.
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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