Kite Pharma Inc. (KITE) Receives $71.04 Consensus Target Price from Analysts
Shares of Kite Pharma Inc. (NASDAQ:KITE) have earned an average rating of “Buy” from the eighteen ratings firms that are currently covering the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $71.62.
A number of equities analysts have issued reports on the company. BTIG Research restated a “hold” rating on shares of Kite Pharma in a report on Tuesday. HC Wainwright assumed coverage on Kite Pharma in a report on Monday. They set a “buy” rating and a $78.00 price target on the stock. Zacks Investment Research upgraded Kite Pharma from a “sell” rating to a “hold” rating in a report on Friday, November 11th. Jefferies Group restated a “buy” rating on shares of Kite Pharma in a report on Thursday, November 10th. Finally, Cowen and Company restated a “buy” rating on shares of Kite Pharma in a report on Wednesday, October 19th.
In other news, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $54.81, for a total transaction of $82,215.00. Following the completion of the transaction, the senior vice president now owns 17,311 shares in the company, valued at approximately $948,815.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $58.28, for a total value of $582,800.00. The disclosure for this sale can be found here. Insiders own 20.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Kite Pharma by 1.1% in the third quarter. Principal Financial Group Inc. now owns 6,973 shares of the biopharmaceutical company’s stock valued at $390,000 after buying an additional 78 shares during the last quarter. Smith Asset Management Group LP increased its position in shares of Kite Pharma by 1.2% in the third quarter. Smith Asset Management Group LP now owns 7,036 shares of the biopharmaceutical company’s stock valued at $391,000 after buying an additional 86 shares in the last quarter. BlackRock Inc. increased its position in shares of Kite Pharma by 2.2% in the third quarter. BlackRock Inc. now owns 4,112 shares of the biopharmaceutical company’s stock valued at $229,000 after buying an additional 90 shares in the last quarter. Boyer & Corporon Wealth Management LLC increased its position in shares of Kite Pharma by 1.7% in the second quarter. Boyer & Corporon Wealth Management LLC now owns 10,025 shares of the biopharmaceutical company’s stock valued at $501,000 after buying an additional 165 shares in the last quarter. Finally, Howard Hughes Medical Institute increased its position in shares of Kite Pharma by 7.8% in the third quarter. Howard Hughes Medical Institute now owns 3,700 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 269 shares in the last quarter. Institutional investors own 75.40% of the company’s stock.
Kite Pharma (NASDAQ:KITE) opened at 51.69 on Friday. The company has a 50 day moving average of $49.15 and a 200 day moving average of $52.34. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $87.50. The company’s market capitalization is $2.58 billion.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.63) by $0.14. The firm had revenue of $7.34 million for 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%. The company’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.38) EPS. On average, analysts predict that Kite Pharma will post ($5.52) earnings per share for the current fiscal year.
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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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