Kite Pharma Inc. (KITE) Rating Reiterated by Stifel Nicolaus
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a research report issued on Friday. They presently have a $74.00 price objective on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price points to a potential upside of 34.33% from the company’s current price.
Other equities research analysts also recently issued research reports about the stock. Jefferies Group reissued a “buy” rating and issued a $72.00 target price on shares of Kite Pharma in a research note on Saturday, July 9th. Vetr upgraded shares of Kite Pharma from a “sell” rating to a “buy” rating and set a $58.58 price target on the stock in a report on Tuesday, August 2nd. Mizuho restated a “hold” rating and issued a $80.00 price target on shares of Kite Pharma in a report on Friday, July 8th. Canaccord Genuity restated a “buy” rating and issued a $75.00 price target on shares of Kite Pharma in a report on Wednesday, July 13th. Finally, Maxim Group restated a “buy” rating on shares of Kite Pharma in a report on Thursday, June 2nd. Three research 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 an average rating of “Buy” and a consensus price target of $74.46.
Kite Pharma (NASDAQ:KITE) opened at 55.09 on Friday. The stock’s market capitalization is $2.73 billion. The firm has a 50-day moving average of $57.93 and a 200 day moving average of $51.91. Kite Pharma has a one year low of $38.41 and a one year high of $89.84.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.21) by $0.30. Kite Pharma had a negative net margin of 873.86% and a negative return on equity of 32.91%. The business had revenue of $4.80 million for the quarter, compared to the consensus estimate of $4.86 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that Kite Pharma will post ($5.87) earnings per share for the current fiscal year.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $50.94, for a total transaction of $509,400.00. Following the completion of the sale, the chief operating officer now directly owns 105,401 shares of the company’s stock, valued at $5,369,126.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $56.90, for a total transaction of $85,350.00. Following the sale, the senior vice president now directly owns 16,367 shares of the company’s stock, valued at $931,282.30. The disclosure for this sale can be found here. Company insiders own 20.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in KITE. HBK Investments L P raised its stake in Kite Pharma by 73.5% in the first quarter. HBK Investments L P now owns 11,501 shares of the biopharmaceutical company’s stock valued at $528,000 after buying an additional 4,871 shares during the last quarter. Geode Capital Management LLC raised its stake in Kite Pharma by 5.4% in the first quarter. Geode Capital Management LLC now owns 282,806 shares of the biopharmaceutical company’s stock valued at $12,983,000 after buying an additional 14,380 shares during the last quarter. Nicholas Investment Partners LP bought a new position in shares of Kite Pharma during the first quarter valued at approximately $1,340,000. UBS Asset Management Americas Inc. raised its position in shares of Kite Pharma by 2.8% in the first quarter. UBS Asset Management Americas Inc. now owns 377,578 shares of the biopharmaceutical company’s stock valued at $17,334,000 after buying an additional 10,167 shares during the last quarter. Finally, State Street Corp raised its position in shares of Kite Pharma by 30.6% in the first quarter. State Street Corp now owns 1,332,147 shares of the biopharmaceutical company’s stock valued at $61,162,000 after buying an additional 312,481 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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