Kite Pharma Inc. (KITE) Given a $77.00 Price Target by Maxim Group Analysts
Maxim Group set a $77.00 price target on Kite Pharma Inc. (NASDAQ:KITE) in a research note published on Thursday morning. The firm currently has a a buy rating on the biopharmaceutical company’s stock.
A number of other analysts also recently issued reports on KITE. Mizuho reiterated a buy rating and issued a $80.00 price objective on shares of Kite Pharma in a report on Wednesday, June 8th. Cowen and Company reiterated a buy rating on shares of Kite Pharma in a report on Monday, June 20th. Zacks Investment Research upgraded shares of Kite Pharma from a hold rating to a buy rating and set a $57.00 price objective on the stock in a report on Tuesday, July 5th. Barclays PLC started coverage on shares of Kite Pharma in a report on Wednesday, July 6th. They issued an equal weight rating and a $58.00 price objective on the stock. Finally, FBR & Co reissued an outperform rating and issued a $75.00 target price on shares of Kite Pharma in a research note on Sunday, July 10th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $74.46.
Shares of Kite Pharma (NASDAQ:KITE) traded up 0.11% during trading on Thursday, hitting $55.72. 940,563 shares of the stock were exchanged. The company’s market cap is $2.76 billion. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $89.84. The firm’s 50-day moving average is $57.42 and its 200 day moving average is $52.05.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $4.80 million for the quarter, compared to the consensus estimate of $4.86 million. During the same period last year, the company earned ($0.26) earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that Kite Pharma will post ($5.87) earnings per share for the current fiscal year.
In related news, SVP Jeffrey Wiezorek sold 1,500 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $54.81, for a total value of $82,215.00. Following the completion of the transaction, the senior vice president now owns 17,311 shares of the company’s stock, valued at $948,815.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Helen Susan Kim sold 35,900 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $60.27, for a total value of $2,163,693.00. Following the completion of the transaction, the executive vice president now directly owns 42,500 shares of the company’s stock, valued at approximately $2,561,475. The disclosure for this sale can be found here. 20.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC increased its position in Kite Pharma by 0.6% in the first quarter. TIAA CREF Investment Management LLC now owns 158,118 shares of the biopharmaceutical company’s stock worth $7,259,000 after buying an additional 865 shares during the period. Teachers Advisors Inc. increased its position in shares of Kite Pharma by 7.4% in the first quarter. Teachers Advisors Inc. now owns 86,351 shares of the biopharmaceutical company’s stock valued at $3,964,000 after buying an additional 5,946 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Kite Pharma by 0.7% in the first quarter. Franklin Resources Inc. now owns 402,444 shares of the biopharmaceutical company’s stock valued at $18,476,000 after buying an additional 2,700 shares during the last quarter. BlackRock Group LTD increased its position in shares of Kite Pharma by 52.8% in the first quarter. BlackRock Group LTD now owns 29,816 shares of the biopharmaceutical company’s stock valued at $1,370,000 after buying an additional 10,303 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Kite Pharma by 14.6% in the first quarter. BlackRock Fund Advisors now owns 1,508,215 shares of the biopharmaceutical company’s stock valued at $69,242,000 after buying an additional 192,512 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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