Kite Pharma, Inc. Expected to Earn Q2 2017 Earnings of ($1.93) Per Share (NASDAQ:KITE)
Kite Pharma, Inc. (NASDAQ:KITE) – Research analysts at Jefferies Group cut their Q2 2017 earnings estimates for shares of Kite Pharma in a note issued to investors on Monday. Jefferies Group analyst B. Amin now expects that the biopharmaceutical company will post earnings per share of ($1.93) for the quarter, down from their prior estimate of ($1.80). Jefferies Group currently has a “Buy” rating and a $121.00 price target on the stock. Jefferies Group also issued estimates for Kite Pharma’s Q3 2017 earnings at ($2.27) EPS, Q4 2017 earnings at ($2.43) EPS, FY2017 earnings at ($8.40) EPS, FY2018 earnings at ($6.85) EPS, FY2019 earnings at ($1.04) EPS, FY2020 earnings at $3.90 EPS and FY2021 earnings at $7.28 EPS.
Kite Pharma (NASDAQ:KITE) last issued its earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) EPS for the quarter, missing the consensus estimate of ($1.68) by $0.06. The firm had revenue of $9.80 million during the quarter, compared to the consensus estimate of $8.85 million. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The firm’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same period last year, the business earned ($0.60) earnings per share.
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A number of other research firms also recently weighed in on KITE. Canaccord Genuity set a $115.00 target price on Kite Pharma and gave the company a “buy” rating in a research report on Monday. Maxim Group downgraded Kite Pharma from a “buy” rating to a “hold” rating in a research report on Thursday. Roth Capital reiterated a “buy” rating and set a $93.00 target price on shares of Kite Pharma in a research report on Tuesday, July 4th. Cowen and Company reiterated an “outperform” rating on shares of Kite Pharma in a research report on Tuesday, July 4th. Finally, Wedbush reiterated an “underperform” rating and set a $54.00 target price on shares of Kite Pharma in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $85.63.
Kite Pharma (KITE) opened at 103.36 on Wednesday. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $106.80. The company has a 50-day moving average price of $82.64 and a 200 day moving average price of $69.15. The company’s market capitalization is $5.84 billion.
In other Kite Pharma news, Chairman Arie Belldegrun bought 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average price of $68.57 per share, with a total value of $1,165,690.00. Following the completion of the purchase, the chairman now directly owns 85,507 shares of the company’s stock, valued at approximately $5,863,214.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Cynthia M. Butitta sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $103.09, for a total value of $1,546,350.00. Following the sale, the chief operating officer now directly owns 132,795 shares of the company’s stock, valued at approximately $13,689,836.55. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 70,450 shares of company stock valued at $4,863,126 and have sold 486,508 shares valued at $41,587,972. Company insiders own 14.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in KITE. Baillie Gifford & Co. acquired a new stake in Kite Pharma during the first quarter valued at approximately $201,000. Turner Investments LLC acquired a new stake in Kite Pharma during the first quarter valued at approximately $235,000. Neuberger Berman Group LLC acquired a new stake in Kite Pharma during the first quarter valued at approximately $276,000. Teacher Retirement System of Texas acquired a new stake in Kite Pharma during the first quarter valued at approximately $282,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in Kite Pharma during the first quarter valued at approximately $287,000. 85.33% of the stock is owned by institutional investors and hedge funds.
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 target and kill cancer cells. The Company offers engineered autologous cell therapy, which is an approach to the treatment of cancer. Its therapy involves modifying a patient’s T cells outside the patient’s body, or ex vivo, causing the T cells to express chimeric antigen receptors (CARs), or T cell receptors (TCRs), and then reinfusing the engineered T cells back into the patient.
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