Kite Pharma Inc. (KITE) Stock Rating Reaffirmed by BTIG Research
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “hold” rating reiterated by analysts at BTIG Research in a note issued to investors on Sunday.
Other analysts also recently issued research reports about the company. Vetr upgraded Kite Pharma from a “sell” rating to a “buy” rating and set a $58.58 price target on the stock in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded Kite Pharma from a “sell” rating to a “hold” rating in a research note on Friday. FBR & Co reiterated an “outperform” rating and set a $78.00 price target on shares of Kite Pharma in a research note on Tuesday, September 27th. Canaccord Genuity set a $75.00 price target on Kite Pharma and gave the company a “buy” rating in a research note on Wednesday, October 19th. Finally, Maxim Group reiterated a “buy” rating and set a $77.00 price target (down previously from $87.00) on shares of Kite Pharma in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.03.
Shares of Kite Pharma (NASDAQ:KITE) traded up 1.18% during mid-day trading on Friday, reaching $51.50. The company had a trading volume of 1,164,503 shares. Kite Pharma has a 52 week low of $38.41 and a 52 week high of $89.84. The stock has a 50 day moving average of $50.05 and a 200-day moving average of $51.96. The company’s market capitalization is $2.57 billion.
Kite Pharma (NASDAQ:KITE) last announced its 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 company had revenue of $7.34 million for the quarter, compared to analyst estimates of $4.94 million. During the same period in the prior year, the company posted ($0.38) EPS. The firm’s quarterly revenue was up 43.1% compared to the same quarter last year. On average, analysts expect that Kite Pharma will post ($5.61) earnings per share for the current fiscal year.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $54.13, for a total transaction of $541,300.00. Following the completion of the transaction, the chief operating officer now owns 105,477 shares of the company’s stock, valued at $5,709,470.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $54.81, for a total value of $82,215.00. Following the transaction, the senior vice president now directly owns 17,311 shares of the company’s stock, valued at approximately $948,815.91. The disclosure for this sale can be found here. Company insiders own 20.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Capital World Investors boosted its stake 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 valued at $76,150,000 after buying an additional 483,000 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Kite Pharma during the third quarter valued at approximately $25,579,000. JPMorgan Chase & Co. boosted its stake in 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 in the last quarter. First Republic Investment Management Inc. boosted its stake 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 valued at $33,967,000 after buying an additional 372,034 shares in the last quarter. Finally, State Street Corp boosted its stake 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 valued at $61,162,000 after buying an additional 312,481 shares in the last quarter. 75.34% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Kite Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Pharma Inc. and related stocks with our FREE daily email newsletter.