Jefferies Group Analysts Lift Earnings Estimates for Kite Pharma Inc (KITE)
Kite Pharma Inc (NASDAQ:KITE) – Investment analysts at Jefferies Group boosted their Q1 2017 earnings estimates for shares of Kite Pharma in a research report issued to clients and investors on Thursday. Jefferies Group analyst B. Amin now forecasts that the brokerage will post earnings of ($1.77) per share for the quarter, up from their previous forecast of ($1.83). Jefferies Group has a “Buy” rating and a $101.00 price objective on the stock. Jefferies Group also issued estimates for Kite Pharma’s Q2 2017 earnings at ($1.83) EPS, Q3 2017 earnings at ($2.16) EPS, Q4 2017 earnings at ($2.37) EPS, FY2017 earnings at ($8.14) EPS, FY2018 earnings at ($6.54) EPS, FY2019 earnings at ($0.77) EPS, FY2020 earnings at $4.09 EPS and FY2021 earnings at $7.42 EPS.
A number of other research analysts also recently issued reports on KITE. Stifel Nicolaus downgraded shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research report on Friday, March 3rd. Maxim Group restated a “buy” rating and issued a $84.00 price target on shares of Kite Pharma in a research report on Saturday, March 11th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target (up from $85.00) on shares of Kite Pharma in a research report on Monday, March 6th. BTIG Research restated a “hold” rating on shares of Kite Pharma in a research report on Tuesday, November 22nd. Finally, FBR & Co restated a “buy” rating on shares of Kite Pharma in a research report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $78.14.
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Kite Pharma (NASDAQ:KITE) opened at 84.94 on Monday. The firm’s market capitalization is $4.26 billion. The firm’s 50-day moving average is $63.53 and its 200 day moving average is $54.03. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $88.58.
Kite Pharma (NASDAQ:KITE) last issued its earnings results on Monday, February 27th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, topping the consensus estimate of ($1.75) by $0.44. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. The company had revenue of $4.90 million for the quarter, compared to analyst estimates of $5.74 million. During the same period in the prior year, the business posted ($0.54) earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year.
In related news, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $50.56, for a total value of $505,600.00. Following the sale, the chief operating officer now directly owns 127,795 shares in the company, valued at approximately $6,461,315.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jeffrey Wiezorek sold 1,500 shares of Kite Pharma stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $50.00, for a total transaction of $75,000.00. Following the completion of the sale, the senior vice president now owns 22,195 shares in the company, valued at $1,109,750. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,600 shares of company stock worth $12,347,646. 20.60% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Strs Ohio increased its stake in shares of Kite Pharma by 33.3% in the third quarter. Strs Ohio now owns 3,200 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 800 shares in the last quarter. WFG Advisors LP purchased a new stake in shares of Kite Pharma during the fourth quarter valued at $328,000. Howard Hughes Medical Institute increased its stake 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. BlackRock Inc. increased its stake 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. Finally, Seven Eight Capital LP purchased a new stake in shares of Kite Pharma during the fourth quarter valued at $197,000. Hedge funds and other institutional investors own 80.73% 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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