FY2020 Earnings Forecast for Kite Pharma Inc. Issued By SunTrust Banks (KITE)
Kite Pharma Inc. (NASDAQ:KITE) – Stock analysts at SunTrust Banks dropped their FY2020 EPS estimates for shares of Kite Pharma in a research note issued on Wednesday. SunTrust Banks analyst P. Lawson now forecasts that the brokerage will post earnings per share of $3.68 for the year, down from their prior estimate of $3.71.
KITE has been the topic of a number of other reports. Jefferies Group restated a “buy” rating and issued a $72.00 target price on shares of Kite Pharma in a research note on Tuesday, November 1st. Goldman Sachs Group Inc. restated a “buy” rating and issued a $70.00 target price on shares of Kite Pharma in a research note on Monday, October 10th. Vetr lowered Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $63.91 target price on the stock. in a research note on Tuesday, September 13th. Stifel Nicolaus restated a “buy” rating and issued a $74.00 target price on shares of Kite Pharma in a research note on Thursday, September 22nd. Finally, BTIG Research restated a “neutral” rating on shares of Kite Pharma in a research note on Sunday, October 9th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $73.03.
Shares of Kite Pharma (NASDAQ:KITE) traded up 1.18% during trading on Friday, reaching $51.50. The company’s stock had a trading volume of 1,164,503 shares. The stock’s 50 day moving average price is $50.05 and its 200-day moving average price is $51.96. Kite Pharma has a 52-week low of $38.41 and a 52-week high of $89.84. The stock’s market cap is $2.57 billion.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.63) by $0.14. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The firm had revenue of $7.34 million for the quarter, compared to analyst estimates of $4.94 million. During the same period in the previous year, the firm earned ($0.38) earnings per share. The company’s revenue was up 43.1% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Kite Pharma during the second quarter valued at $120,000. Picton Mahoney Asset Management purchased a new position in Kite Pharma during the second quarter worth approximately $135,000. Howard Hughes Medical Institute boosted its position in Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 348 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Kite Pharma by 115.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,301 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 1,768 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,926 shares during the last quarter. Institutional investors and hedge funds own 75.34% of the company’s stock.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $58.28, for a total value of $582,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Helen Susan Kim sold 35,900 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $60.27, for a total value of $2,163,693.00. Following the completion of the sale, the executive vice president now 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 company insiders.
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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