Kite Pharma Inc. (KITE) Receives “Buy” Rating from RBC Capital Markets
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reissued by stock analysts at RBC Capital Markets in a research note issued to investors on Thursday.
Other analysts also recently issued research reports about the stock. Vetr downgraded shares of Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $63.91 price target for the company. in a research report on Tuesday, September 13th. Maxim Group reissued a “buy” rating and set a $77.00 price target (down previously from $87.00) on shares of Kite Pharma in a research report on Tuesday, August 9th. Jefferies Group reissued a “buy” rating on shares of Kite Pharma in a research report on Friday, August 5th. Mizuho set a $80.00 price target on shares of Kite Pharma and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $74.00 price target on shares of Kite Pharma in a research report on Thursday, September 22nd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Kite Pharma has a consensus rating of “Buy” and an average target price of $71.57.
Shares of Kite Pharma (NASDAQ:KITE) traded down 0.67% during trading on Thursday, reaching $50.56. 513,204 shares of the company’s stock traded hands. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $86.79. The company has a 50 day moving average of $48.69 and a 200-day moving average of $52.36. The company’s market capitalization is $2.52 billion.
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. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. The business earned $7.34 million during the quarter, compared to the consensus estimate of $4.94 million. During the same quarter last year, the company earned ($0.38) earnings per share. The business’s quarterly revenue was up 43.1% compared to the same quarter last year. Equities analysts predict that Kite Pharma will post ($5.56) earnings per share for the current year.
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In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $54.13, for a total value of $541,300.00. Following the sale, the chief operating officer now directly owns 105,477 shares in the company, valued at $5,709,470.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 17,311 shares in the company, valued at $948,815.91. The disclosure for this sale can be found here. 20.60% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in Kite Pharma during the second quarter worth about $120,000. Picton Mahoney Asset Management bought a new stake in Kite Pharma during the second quarter worth about $135,000. Howard Hughes Medical Institute boosted its stake in Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 348 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Kite Pharma by 115.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,301 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 1,768 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,926 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.
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