Kite Pharma Inc. (KITE) Receives “Buy” Rating from Stifel Nicolaus
Stifel Nicolaus reissued their buy rating on shares of Kite Pharma Inc. (NASDAQ:KITE) in a research note released on Saturday morning. Stifel Nicolaus currently has a $74.00 price target on the biopharmaceutical company’s stock.
Other equities analysts have also issued reports about the company. Jefferies Group reissued a buy rating and set a $72.00 price objective on shares of Kite Pharma in a report on Tuesday, September 27th. BTIG Research assumed coverage on Kite Pharma in a report on Tuesday, August 30th. They set a neutral rating for the company. Zacks Investment Research raised Kite Pharma from a sell rating to a hold rating in a report on Friday, November 11th. HC Wainwright assumed coverage on Kite Pharma in a report on Monday, November 21st. They set a buy rating and a $78.00 price objective for the company. Finally, Mizuho set a $80.00 price objective on Kite Pharma and gave the company a buy rating in a report on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $71.57.
Shares of Kite Pharma (NASDAQ:KITE) traded down 0.67% during trading on Friday, hitting $50.56. The stock had a trading volume of 513,204 shares. The company’s market cap is $2.52 billion. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $86.79. The firm’s 50 day moving average is $48.69 and its 200 day moving average is $52.36.
Kite Pharma (NASDAQ:KITE) last released its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.63) by $0.14. The company earned $7.34 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted ($0.38) earnings per share. Equities research analysts anticipate that Kite Pharma will post ($5.56) EPS for the current fiscal year.
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In related 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 value of $82,215.00. Following the sale, the senior vice president now owns 17,311 shares in the company, valued at $948,815.91. The sale 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 the 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 completion of the sale, the chief operating officer now owns 105,477 shares in the company, valued at approximately $5,709,470.01. The disclosure for this sale can be found here. Company insiders own 20.60% of the company’s stock.
Several large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Kite Pharma by 5.4% in the first quarter. Geode Capital Management LLC now owns 282,806 shares of the biopharmaceutical company’s stock worth $12,983,000 after buying an additional 14,380 shares during the period. LPL Financial LLC increased its stake in shares of Kite Pharma by 12.6% in the first quarter. LPL Financial LLC now owns 25,776 shares of the biopharmaceutical company’s stock worth $1,290,000 after buying an additional 2,878 shares during the period. Creative Planning increased its stake in shares of Kite Pharma by 11.2% in the second quarter. Creative Planning now owns 20,215 shares of the biopharmaceutical company’s stock worth $1,011,000 after buying an additional 2,030 shares during the period. Shikiar Asset Management Inc. increased its stake in shares of Kite Pharma by 8.2% in the second quarter. Shikiar Asset Management Inc. now owns 39,500 shares of the biopharmaceutical company’s stock worth $1,975,000 after buying an additional 3,000 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of Kite Pharma during the second quarter worth about $320,000. Institutional investors own 75.40% of the company’s stock.
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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