BTIG Research reissued their neutral rating on shares of Kite Pharma Inc. (NASDAQ:KITE) in a research report report published on Sunday.

Other analysts have also issued research reports about the stock. Cowen and Company restated a buy rating on shares of Kite Pharma in a research 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 target price on the stock in a research report on Tuesday, July 5th. Barclays PLC started coverage on shares of Kite Pharma in a research report on Wednesday, July 6th. They issued an equal weight rating and a $58.00 target price on the stock. Mizuho restated a hold rating and issued a $80.00 target price on shares of Kite Pharma in a research report on Friday, July 8th. Finally, FBR & Co restated an outperform rating and issued a $75.00 target price on shares of Kite Pharma in a research report on Sunday, July 10th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $74.46.

Analyst Recommendations for Kite Pharma (NASDAQ:KITE)

Kite Pharma (NASDAQ:KITE) traded up 0.11% on Friday, hitting $55.72. 1,130,601 shares of the stock were exchanged. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $89.84. The company has a 50-day moving average price of $57.29 and a 200 day moving average price of $52.12. The company’s market capitalization is $2.76 billion.

Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.21) by $0.30. The business had revenue of $4.80 million for the quarter, compared to analyst estimates of $4.86 million. Kite Pharma had a negative net margin of 873.86% and a negative return on equity of 32.91%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.26) EPS. Analysts anticipate that Kite Pharma will post ($5.87) EPS 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 shares were sold at an average price of $54.81, for a total transaction of $82,215.00. Following the transaction, the senior vice president now directly owns 17,311 shares in the company, valued at $948,815.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $50.94, for a total transaction of $509,400.00. Following the transaction, the chief operating officer now owns 105,401 shares in the company, valued at $5,369,126.94. The disclosure for this sale can be found here. Corporate insiders own 20.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its position in Kite Pharma by 14.6% in the first quarter. BlackRock Fund Advisors now owns 1,508,215 shares of the biopharmaceutical company’s stock worth $69,242,000 after buying an additional 192,512 shares during the last quarter. First Republic Investment Management Inc. boosted its position in Kite Pharma by 101.1% in the first quarter. First Republic Investment Management Inc. now owns 739,867 shares of the biopharmaceutical company’s stock worth $33,967,000 after buying an additional 372,034 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Kite Pharma by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 956,903 shares of the biopharmaceutical company’s stock worth $43,931,000 after buying an additional 62,968 shares during the last quarter. State Street Corp boosted its position in Kite Pharma by 30.6% in the first quarter. State Street Corp now owns 1,332,147 shares of the biopharmaceutical company’s stock worth $61,162,000 after buying an additional 312,481 shares during the last quarter. Finally, Moody Aldrich Partners LLC bought a new position in Kite Pharma during the second quarter worth $694,000. Institutional investors and hedge funds own 75.28% of the company’s stock.

About Kite Pharma

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.

5 Day Chart for NASDAQ:KITE

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