Kite Pharma Inc. (KITE) Stock Rating Reaffirmed by BTIG Research
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “hold” rating restated by equities researchers at BTIG Research in a research note issued to investors on Tuesday.
A number of other equities analysts have also weighed in on the stock. HC Wainwright assumed coverage on shares of Kite Pharma in a report on Monday. They issued a “buy” rating and a $78.00 price target on the stock. Zacks Investment Research upgraded shares of Kite Pharma from a “sell” rating to a “hold” rating in a report on Friday, November 11th. Jefferies Group reiterated a “buy” rating on shares of Kite Pharma in a report on Thursday, November 10th. Cowen and Company reiterated a “buy” rating on shares of Kite Pharma in a report on Wednesday, October 19th. Finally, Maxim Group set a $77.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a report on Wednesday, October 19th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Kite Pharma has a consensus rating of “Buy” and an average target price of $71.57.
Kite Pharma (NASDAQ:KITE) opened at 50.90 on Tuesday. The firm’s market cap is $2.54 billion. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $87.09. The firm has a 50-day moving average of $49.04 and a 200 day moving average of $52.33.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.63) by $0.14. The company had revenue of $7.34 million for the quarter, compared to analyst estimates of $4.94 million. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. Kite Pharma’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.38) EPS. On average, analysts predict that Kite Pharma will post ($5.56) EPS for the current year.
In other news, SVP Jeffrey Wiezorek sold 1,500 shares of Kite Pharma stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $54.81, for a total value of $82,215.00. Following the completion of the transaction, the senior vice president now directly owns 17,311 shares of the company’s stock, valued at approximately $948,815.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction dated Monday, September 26th. The shares were 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 directly owns 105,477 shares of the company’s stock, valued at $5,709,470.01. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors raised its position 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 during the last quarter. JPMorgan Chase & Co. raised its position 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 worth $158,402,000 after buying an additional 379,661 shares during the last quarter. Vanguard Group Inc. raised its position in Kite Pharma by 6.3% in the second quarter. Vanguard Group Inc. now owns 2,935,406 shares of the biopharmaceutical company’s stock worth $146,771,000 after buying an additional 173,879 shares during the last quarter. BlackRock Fund Advisors raised its position in Kite Pharma by 5.7% in the third quarter. BlackRock Fund Advisors now owns 1,751,216 shares of the biopharmaceutical company’s stock worth $97,823,000 after buying an additional 94,421 shares during the last quarter. Finally, Capital World Investors raised its position in Kite Pharma by 2.4% in the third quarter. Capital World Investors now owns 1,559,000 shares of the biopharmaceutical company’s stock worth $87,086,000 after buying an additional 36,000 shares during the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.
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About Kite Pharma
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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