Vetr upgraded shares of Kite Pharma Inc. (NASDAQ:KITE) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday. They currently have $64.48 price target on the biopharmaceutical company’s stock.

A number of other brokerages have also commented on KITE. Jefferies Group reaffirmed a buy rating and set a $72.00 price objective on shares of Kite Pharma in a research report on Tuesday, September 27th. BTIG Research started coverage on shares of Kite Pharma in a research report on Tuesday, August 30th. They set a neutral rating for the company. Mizuho reissued a buy rating and issued a $80.00 price target on shares of Kite Pharma in a research report on Friday, July 22nd. Stifel Nicolaus set a $74.00 price target on shares of Kite Pharma and gave the stock a buy rating in a research report on Thursday, October 6th. Finally, Zacks Investment Research raised shares of Kite Pharma from a hold rating to a buy rating and set a $57.00 price target for the company in a research report on Tuesday, July 5th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $73.03.

Kite Pharma (NASDAQ:KITE) opened at 51.215 on Wednesday. The firm has a 50-day moving average price of $56.79 and a 200-day moving average price of $52.36. Kite Pharma has a 52 week low of $38.41 and a 52 week high of $89.84. The firm’s market capitalization is $2.54 billion.

Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.21) by $0.30. The business earned $4.80 million during 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 in the prior year, the business earned ($0.26) earnings per share. Equities analysts forecast that Kite Pharma will post ($5.87) EPS for the current year.

In other news, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $50.94, for a total value of $509,400.00. Following the completion of the transaction, the chief operating officer now directly owns 105,401 shares in the company, valued at approximately $5,369,126.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $56.90, for a total transaction of $85,350.00. Following the completion of the transaction, the senior vice president now owns 16,367 shares of the company’s stock, valued at $931,282.30. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the stock. Capital Research Global Investors boosted its position in shares of 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 during the last quarter. JPMorgan Chase & Co. boosted 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. boosted 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 boosted its position in Kite Pharma by 9.9% in the second quarter. BlackRock Fund Advisors now owns 1,656,795 shares of the biopharmaceutical company’s stock worth $82,840,000 after buying an additional 148,580 shares in the last quarter. Finally, Capital World Investors boosted its position in Kite Pharma by 46.4% in the second quarter. Capital World Investors now owns 1,523,000 shares of the biopharmaceutical company’s stock worth $76,150,000 after buying an additional 483,000 shares in the last quarter. Institutional investors 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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