Kite Pharma Inc. (KITE) Given Average Rating of “Buy” by Brokerages
Shares of Kite Pharma Inc. (NASDAQ:KITE) have been assigned an average rating of “Buy” from the seventeen brokerages that are covering the company. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $71.12.
KITE has been the topic of a number of research analyst reports. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $70.00 target price on shares of Kite Pharma in a research report on Monday. Vetr lowered Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $63.91 price objective on the stock. in a research report on Tuesday, September 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective on shares of Kite Pharma in a research report on Thursday, September 22nd. BTIG Research reaffirmed a “neutral” rating on shares of Kite Pharma in a research report on Sunday, October 9th. Finally, Barclays PLC upped their price objective on Kite Pharma from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 27th.
In other 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 owns 105,401 shares in the company, valued at $5,369,126.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $56.90, for a total transaction of $85,350.00. Following the sale, the senior vice president now owns 16,367 shares of the company’s stock, valued at approximately $931,282.30. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Kite Pharma during the second quarter valued at $120,000. Picton Mahoney Asset Management acquired a new stake in shares of Kite Pharma during the second quarter valued at $135,000. BNP Paribas Arbitrage SA increased its stake in shares of Kite Pharma by 115.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,301 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 1,768 shares during the period. Howard Hughes Medical Institute increased its stake in shares of Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 348 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,926 shares during the period. Institutional investors and hedge funds own 75.28% of the company’s stock.
Shares of Kite Pharma (NASDAQ:KITE) traded down 3.21% during trading on Friday, reaching $49.77. The company had a trading volume of 458,158 shares. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $89.84. The firm has a 50-day moving average of $56.62 and a 200 day moving average of $52.36. The firm’s market capitalization is $2.47 billion.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.30. The company had revenue of $4.80 million for the quarter, compared to analyst estimates of $4.86 million. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.26) earnings per share. Analysts expect that Kite Pharma will post ($5.87) earnings per share for the current year.
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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