FY2016 EPS Estimates for Kite Pharma Inc. (KITE) Boosted by SunTrust Banks
Kite Pharma Inc. (NASDAQ:KITE) – Stock analysts at SunTrust Banks raised their FY2016 EPS estimates for shares of Kite Pharma in a report released on Wednesday. SunTrust Banks analyst P. Lawson now anticipates that the firm will earn ($5.72) per share for the year, up from their prior forecast of ($6.08). SunTrust Banks also issued estimates for Kite Pharma’s Q4 2016 earnings at ($2.01) EPS, FY2017 earnings at ($6.21) EPS, FY2018 earnings at ($4.91) EPS and FY2019 earnings at ($0.94) EPS.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted ($0.38) EPS. The business’s revenue was up 43.1% on a year-over-year basis.
A number of other equities analysts have also commented on KITE. Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 price target on shares of Kite Pharma in a report on Friday, September 30th. Jefferies Group reaffirmed a “buy” rating and issued a $72.00 price target on shares of Kite Pharma in a report on Tuesday, November 1st. Vetr lowered Kite Pharma from a “buy” rating to a “hold” rating and set a $62.43 price target for the company. in a report on Tuesday, September 6th. Maxim Group set a $77.00 price target on Kite Pharma and gave the stock a “buy” rating in a report on Thursday, October 6th. Finally, BTIG Research reissued a “neutral” rating on shares of Kite Pharma in a research note on Sunday, October 9th. Three equities research 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’s stock. The company currently has a consensus rating of “Buy” and an average target price of $71.11.
Shares of Kite Pharma (NASDAQ:KITE) opened at 50.50 on Monday. The company’s market cap is $2.52 billion. The firm has a 50 day moving average price of $49.86 and a 200-day moving average price of $52.10. Kite Pharma has a 52-week low of $38.41 and a 52-week high of $89.84.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Suisse AG increased its position in shares of Kite Pharma by 38.2% in the third quarter. Credit Suisse AG now owns 94,770 shares of the biopharmaceutical company’s stock worth $5,295,000 after buying an additional 26,197 shares in the last quarter. Boyer & Corporon Wealth Management LLC increased its position in shares of Kite Pharma by 1.8% in the third quarter. Boyer & Corporon Wealth Management LLC now owns 10,203 shares of the biopharmaceutical company’s stock worth $570,000 after buying an additional 178 shares in the last quarter. Endurant Capital Management LP acquired a new position in shares of Kite Pharma during the third quarter worth about $547,000. Capital International Sarl acquired a new position in shares of Kite Pharma during the third quarter worth about $1,067,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Kite Pharma during the third quarter worth about $1,501,000. Institutional investors own 75.56% of the company’s stock.
In related news, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $58.28, for a total transaction of $582,800.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $58.24, for a total value of $87,360.00. The disclosure for this sale can be found here. 20.60% of the stock is owned by 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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