HC Wainwright began coverage on shares of Kite Pharma Inc. (NASDAQ:KITE) in a report released on Monday. The brokerage issued a buy rating and a $78.00 price target on the biopharmaceutical company’s stock.

KITE has been the subject of a number of other research reports. Vetr cut Kite Pharma from a buy rating to a hold rating and set a $53.26 price target for the company. in a report on Tuesday, July 26th. Jefferies Group reaffirmed a buy rating and issued a $72.00 price target on shares of Kite Pharma in a report on Tuesday, October 18th. Barclays PLC upped their price target on Kite Pharma from $60.00 to $65.00 and gave the stock an equal weight rating in a report on Tuesday, September 27th. Canaccord Genuity set a $75.00 price target on Kite Pharma and gave the stock a buy rating in a report on Wednesday, October 19th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Kite Pharma presently has a consensus rating of Buy and a consensus price target of $71.57.

Analyst Recommendations for Kite Pharma (NASDAQ:KITE)

Kite Pharma (NASDAQ:KITE) traded down 4.4769% during midday trading on Monday, hitting $51.2768. The company had a trading volume of 236,024 shares. Kite Pharma has a 52 week low of $38.41 and a 52 week high of $87.50. The stock’s market capitalization is $2.56 billion. The stock has a 50 day moving average price of $49.25 and a 200-day moving average price of $52.29.

Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.63) by $0.14. The company earned $7.34 million during the quarter, compared to analysts’ expectations of $4.94 million. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. Kite Pharma’s quarterly revenue was up 43.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.38) EPS. On average, equities analysts predict that Kite Pharma will post ($5.52) EPS for the current year.

In other Kite Pharma news, SVP Jeffrey Wiezorek sold 1,500 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $58.24, for a total value of $87,360.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Cynthia M. Butitta sold 10,000 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $54.13, for a total value of $541,300.00. Following the completion of the sale, the chief operating officer now owns 105,477 shares in the company, valued at $5,709,470.01. The disclosure for this sale can be found here. 20.60% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of KITE. Capital Research Global Investors boosted its stake in Kite Pharma by 1.0% in the third quarter. Capital Research Global Investors now owns 6,075,623 shares of the biopharmaceutical company’s stock worth $339,384,000 after buying an additional 61,170 shares in the last quarter. JPMorgan Chase & Co. raised 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. raised 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 raised its position in shares of Kite Pharma by 5.7% in the third quarter. BlackRock Fund Advisors now owns 1,751,216 shares of the biopharmaceutical company’s stock valued at $97,823,000 after buying an additional 94,421 shares during the last quarter. Finally, Capital World Investors raised its position in shares of Kite Pharma by 2.4% in the third quarter. Capital World Investors now owns 1,559,000 shares of the biopharmaceutical company’s stock valued at $87,086,000 after buying an additional 36,000 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

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.

5 Day Chart for NASDAQ:KITE

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